Azerbaijani GDP growth in 2011 is expected to be 3.8%, with a nominal GDP of $32 billion, Minister for Economic Development Shahin Mustafayev told Parliament on Tuesday while discussing the draft budget for 2011, NewsAzerbaijan reports.
"In 2011, GDP growth in the non-oil sector will be 7.2%, in 2012-2014 it will be an average of 8% annually," Mustafayev said.
He said GDP per capita will be $5,540 in 2011, while in 2014 it will reach $7,100, which would strengthen the position of Azerbaijan among countries with the high average incomes.”
Mustafayev noted that the priorities for the Azerbaijani Government in the medium term are to improve the investment climate, support the development of small and medium-sized enterprises, as well as financially, to encourage the production of competitive products and to develop the regions." 211 industrial and social facilities are being constructed at the moment in the regions,” the Minister emphasized.
