12:48 - 22.10.2025

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October 22, Fineko/abc.az. Over the past 30 years, the State Budget has increased almost 50-fold.

ABC.AZ informs that Deputy Minister of Economy Sahib Alekperov stated about this during his speech at the scientific & practical conference on the theme "Economic Foundations of State Sovereignty & Economic Independence" dedicated to the Year of the Constitution & Sovereignty, held at the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship.

The deputy minister stressed that in 2004-2024, Azerbaijan's economy grew 3.8-fold, including the non-oil sector by 3.7 times.

"If in 2003 the poverty rate was 44.7% and the unemployment rate - 9.2%, then as a result of the measures taken, both the poverty rate and the unemployment rate decreased to about 5.3% in 2024.

In 2004-2024, $344.4 bn was invested in the Azerbaijani economy, of which $213.2 billion was allocated to the non-oil sector. These investments are an indicator of high confidence in Azerbaijan from foreign investors and international partners, as well as stability in the country," Alekperov said.