Azerbaijan’s economy more than triples in two decades

Azerbaijan’s economy has grown by 3.4 times over the past 18 years, including a quadruple growth in industrial sector and twice in the agricultural.

This has become the cornerstone for the development of entrepreneurship in the country, the country’s Economy Minister, Mikayil Jabbarov, said at a conference of entrepreneurs in Baku on Monday, Report informs.

“The achieved results are followed by political and economic stability. The expansion of entrepreneurship in Azerbaijan, which is inclined toward sustainable development, has always been at the heart of the strategy that is being implemented for socio-economic development,” Jabbarov said.

“In recent years, systemic measures have been implemented in this area. The work we are carrying out to constantly for improving the business and investment climates, as well as the legislative framework, and simplifying procedures, play an important role in the development of entrepreneurship.”