The adoption of the “Strategy for the socio-economic development of Azerbaijan for 2022-2026” creates conditions for the transition to a qualitatively new stage of development, Minister of Economy Mikayil Jabbarov said, Report informs.

“For the first time in our practice, the strategy is a fully collective and collegiate document. The sectoral working groups created during the preparation of the strategic document were headed by the chiefs of the relevant regions and ministries. Our main goals are the well-being of society, the integration of the country’s economy into the global value chain, and the strengthening of innovation and financial stability of the national economy,” Jabbarov noted.

He added that other documents and measures arising from the strategy will also be adopted: “For example, privatization in this and other areas, expanding opportunities for financing small and medium-sized businesses, etc.”

The minister stressed that this document covers all aspects of the socio-economic life of Azerbaijan.

According to the strategy, in 2022-2026, the Azerbaijani economy will grow by an average of 3-4% annually, and non-oil and gas GDP will grow by an average of 5% annually. The share of the private sector in the economy will be increased to 88%.

https://report.az/en/finance/minister-azerbaijan-created-conditions-for-transition-to-qualitatively-new-stage-of-development/