Minister highlights financial sector as key driver of Azerbaijan's economic development

The financial sector will be the main driving force behind Azerbaijan's economic development.

Mukhtar Babayev, the Minister of Ecology and Natural Resources and designated president of COP29, made this statement at the forum on "Green Finance and Sustainable Development" held in Baku, Azernews reports.

"We cannot achieve anything without finance. This year, we clearly saw how important financial resources are. Almost all issues start with financing. Everyone in the world already understands this and expects a lot from the financial sector," he said.

According to him, future economic growth and the direction of our economy will largely depend on the banking sector.

"The financial sector will become the main driving force behind this work. We have high expectations for banks and financial institutions in terms of creativity and diverse proposals. The development of mixed forms of these instruments, their market launch, new proposals for businesses, and their presentation to government agencies will create a significant agenda for us," he added.