More than 71% of Azerbaijan’s economy belongs to the non-oil sector, Azerbaijan’s Minister of Economy Mikayil Jabbarov said in an interview with AZERTAC and İTV.
According to him, the share of the oil and gas sector accounts for less than 30%. The policies implemented over the past 20 years have led to a positive transformation in the structure of the economy.
"If we look back 20 years, we see that this indicator did not even reach 45%, standing at around 43.5%-43.6%. This shows the path we have covered. It demonstrates that the policies pursued have been successful," Jabbarov said.
The minister recalled that despite the fact that during these 20 years, Azerbaijan experienced a rather serious devaluation shock, the structural transformation of the economy has taken place to a certain extent.
