Gazprombank Forecasts Growth Of Azerbaijani Economy Due To Projects In Karabakh
(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 2. When
projects in Karabakh gain momentum and attract not only budgetary,
but also foreign investments, their contribution to Azerbaijan's
economic growth may be 2.5 percentage points in 2023, Gulnara
Khaidarshina, Deputy Head of Research at Russian Gazprombank, told
trend .
"Meanwhile, new projects for the development of
transport arteries will ensure the growth of the share of transport
in Azerbaijan's GDP to levels close to 20 percent by 2024. We would
like to note that in the pre-pandemic period of 2019, the share of
transport in Azerbaijan's GDP barely exceeded 10 percent," she
said.
According to Khaidarshina, the inflow of remittances
also contributes to the diversification of the Azerbaijani
economy.
"Growing consumer demand stimulates growth in retail
trade and the service sector, which also belong to the non-oil and
gas sector. According to the Central Bank of Azerbaijan, the inflow
of remittances from individuals to Azerbaijan reached $3.6 billion
and increased by 3.2 times in 2022, compared to 2021," she
added.
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