The statement came from Minister of Economy and Industry Shahin Mustafayev speaking today at the 48th annual session of the Board of Directors of the Asian Development Bank (ADB).
“The economic diversification policy held in ensuring the sustainable economic development of Azerbaijan and prevention of the negative impact of crisis observed in world economy is playing a decisive role.
As a result of conducted works over the past ten years the nonoil economic sector has grown 2.5 times. The share of the non-oil sector in GDP has grown from 37% to 68% and this positive dynamics in economic structure continues, and the spheres of nonoil industry, agriculture, information and communication technologies are developing”, the minister said.
He said one of the major factors are the works carried to create infrastructure meeting modern requirements including social infrastructure:
“The implemented infrastructural projects contribute to the effective economic development and raising the living conditions of the population”.
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