Azerbaijan has increased exports of non-oil products by 11 percent from January through September of the current year, Azerbaijani Economy Minister Mikayil Jabbarov said, AzVision.az reports.
He made the remark during the discussion of the state budget at today's session of Azerbaijan's Milli Majlis (Parliament).
The minister added that growth was recorded in all areas of the non-oil sector.
"During this year, exports of the non-oil sector increased by 11 percent and reached 2.7 billion manat (1.5 billion)," he said.
Jabbarov emphasized that foreign trade surplus was recorded. He also added that inflation in Azerbaijan amounted to 10.9 percent from January through September 2023.
Central Bank of Azerbaijan (CBA) earlier reported that strengthening of restraining factors in the inflationary environment and stabilization of inflationary expectations give grounds to forecast the formation of annual inflation within the target by the end of this year and for 2024.
The data of the Central Bank's October forecasts shows that inflation is expected to be within the target range in the medium term. Annual inflation is thus projected at 4.3 percent by the end of 2023, 5.3 percent in 2024 and 3.4 percent in 2025. In several successive forecast updates this year, inflation projections for 2024 and 2025 have been within the target range.
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