Azerbaijan to continue diversification of economy

  09 June 2018    Read: 1416
Azerbaijan to continue diversification of economy

Azerbaijan intends to continue its work on diversification of the economy, Sahib Mammadov, Deputy Minister of Economy, said speaking at a panel session during the Baku summit of the Alliance of Conservatives and Reformists in Europe June 9.

He noted that the economic indicators for 1Q2018 suggest that the work done is bearing fruit.

"Azerbaijan's GDP in 1Q2018 increased by 1.2 percent, and non-oil GDP rose by 2.1 percent. These figures are indicators of further growth. Economic reforms in Azerbaijan will be continued. Diversification of economy is very important for Azerbaijan as an oil and gas country," the deputy minister said.

He noted that the government of Azerbaijan intends to continue to invest in the development of infrastructure, including social infrastructure.

"The development of infrastructure is the key to the development of entrepreneurship and business in Azerbaijan. In general, the priorities are the development of the non-oil sector of the economy and human capital," Mammadov said.

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