Minister: Azerbaijan registers over 7% GDP growth

By Azernews

Economy Minister Mikayil Jabbarov has said Azerbaijan's GDP had increased by 7.2 percent in January-April this year, compared to the same period in 2021, Azernews reports.

"As a continuation of the rapid recovery process in the Azerbaijani economy after the pandemic, in January-April this year, GDP increased by 7.2 percent, compared to the same period last year, to AZN 39.5 billion ($23.2bn)," he wrote on his official Twitter page.

The minister added that the non-oil and gas sector GDP grew by 11.4 percent to AZN19.4 billion ($11.4bn).

"Thus, in the first 4 months of 2021, GDP was 0.2 percent less than in January-April of the previous year. GDP in the non-oil and gas sector increased by only 4.1 percent in the same period last year compared to January-April 2020," he wrote.

Earlier, Finance Minister Samir Sharifov has said that Azerbaijan's GDP growth in 2021 exceeded the forecast level. Azerbaijan's nominal GDP increased in 2021. Through the real GDP growth was projected at 3.4 percent, it amounted to 5.6 percent in 2021.