Minister: Azerbaijan plans to join group of high-income countries

Azerbaijan's national priorities and the Strategy of Socio-Economic Development for 2022-2026 set the task of further development of the non-oil and gas economy, bolstering of positions in the world economy as a result of human capital development, joining the group of high-income countries.

Economy Minister Mikail Jabbarov made the statement at the II Baku Forum "Sustainable Finance and Investment" in Baku, per Report.

According to him, the implementation of the strategy will allow for the development of several directions: "As a result, the country's economy will grow by 3-4 per cent per year on average, non-oil and gas GDP will grow by 5 per cent per year on average, the share of the private sector in the economy will increase to 88 per cent. In addition, by 2026 it is planned to increase the volume of non-oil and gas exports by 85 per cent compared to 2021."