Non-oil, gas drivers of Azerbaijan's economic growth in 2023-2024 revealed

For the non-oil and gas sector, Azerbaijan's total GDP will grow to 66 per cent in 2023 and reach 68 per cent in 2024.

The statement came from Gulnara Haidarshina, deputy head of the research department of the Russian Gazprombank, chief economist for CIS countries, Report informs.

This figure in 2021 and 2022 was at the level of 64 per cent.

According to her, the main drivers of growth in the oil and gas sector will be the expansion of consumer activity, new projects in Karabakh, infrastructure projects, and the IT sector.

"Economic growth may return to 3% in 2023, up from 4.6 percent in 2022. In 2024, with the support of further development of the non-oil and gas sector, growth will accelerate to 3.5 per cent," Haidarshina noted.