Azerbaijan's economy commences with high indicators in 2024

Azerbaijan's economy started with high indicators in 2024, says Mikayil Jabbarov, Acting Minister of Economy, at the Forum entitled "Tax system in the new development period: Strategic Goals for a Sustainable Economy" held today, Azernews reports.

He noted that the impact on the nominal volume of GDP was natural and expected in accordance with the fact that the oil and gas production in Azerbaijan was lower than predicted and the prices in the world markets were decreasing.

"However, we were ready for the process. The reforms and support measures implemented in the non-oil and gas sector during recent years provide the economic growth's stability today. In 2023, the non-oil and gas sector had growth dynamics of 3.7%," the Acting Minister added.