Presidential aide: Without economic diversification, we’ll not be able to maintain our leadership positions

12:24 - 10.02.2025

February 10, Fineko/abc.az. Azerbaijan is ready to move from a middle-income country to a high-income country.

ABC.AZ reports that Shahmar Movsumov, Head of the Department of Economic Affairs & Policy of Innovative Development of the Presidential Administration, stated aboutt his at the Baku presentation of WB’s annual global report World Development Report (WDR) for 2024.

According to Movsumov, since the 1990s, only four countries have been able to make this transition, and Azerbaijan is also ready for this. "It's not an easy task, but we are ready. Without economic diversification, we will not be able to maintain our leadership positions. Azerbaijan has the necessary infrastructure and base to focus on innovation: on this basis, we can become a prosperous, developing country," he said.

By Elmir Murad