Azerbaijan Highlights Investments In Its Economy For Last Two Decades

2025-10-22 08:04:19

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 22. Investments in Azerbaijan's economy reached $344.4 billion over the last 20 years, Deputy Minister of Economy, Sahib Alakbarov said at the scientific-practical conference on "Economic foundations of state sovereignty and economic independence" dedicated to the "Year of Constitution and Sovereignty" held at the Parliament's Committee on Economic Policy, Industry and Entrepreneurship, Trend reports.

According to him, the state budget has grown by nearly 50 times in the last 30 years.

The deputy minister emphasized that from 2004 through 2024, the gross domestic product increased by 3.8 times, and the non-oil sector by 3.7 times.

"While in 2003 the poverty rate was 44.7 percent and unemployment was 9.2 percent, today these figures have dropped to 5.3 percent. Over the past 20 years, $344.4 billion has been invested in the country's economy, of which $213.2 billion was directed to the non-oil sector. This is an indicator of stability and reliability of the investment climate in the country," Alakbarov added.

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