Baku's economic growth to 2040 is forecast at 78%

In 2040, the volume of gross domestic product (GDP) in the General Development Plan of Baku City until 2040, is planned to increase by 78% compared to 2020 - AZN 52 billion, Azernews reports.

According to the document, the capital's GDP totaled AZN 29.2 mln in 2019. In 2020-2040, it is planned to increase this indicator by AZN 22.8 bln or 78%.

In 2040, the bulk of GDP production in Baku will come from mining (15 percent), professional and financial services (11 percent), tourism (10 percent), trade (10 percent), and transport (8 percent).

"Over the next 20 years, the volume of foreign investment in the capital will amount to $30.3 bln, and the areas designated for investment will amount to 24,000 hectares," the document says.