BAKU, Azerbaijan, For the ten months of this year, the economy of Azerbaijan has increased by 5.2 percent and the non-oil sector by 9.7 percent, told Trend the Minister of Economy, Mikayil Jabbarov, during the plenary session of the Milli Majlis (Parliament) of Azerbaijan.

The minister noted that the transportation, tourism, construction, and communication fields of the non-oil sector demonstrated a high growth rate.

“The activity of the industrial areas had a huge impact on the growth of the non-oil sector in the country. During the accounting period, the industrial areas’ manufacturing increased by more than 55 percent,” he said.

On October 24, the “Azerbaijan’s state budget for 2023” bill was presented in the Milli Majlis.

The bill expects the income of the state budget for 2023 to be 30.7 billion manat ($18 billion), which is 5.2 percent more than in 2022, and 16.4 percent more than in 2021. This rate is going to be the highest in Azerbaijan’s history.

As a result of the successful economic policy of Azerbaijan, the income from the non-oil sector of the state is steadily increasing. The non-oil income of the state budget in 2023 is expected to be 14.4 billion manat ($8.4 billion), which is 5.6 percent more than in 2022, and 12.2 percent more than in 2021.

Source: TREND News Agency