Baku: President Ilham Aliyev emphasized the significance of the non-oil sector in Azerbaijan’s economy during his speech at the conference marking the 80th anniversary of the Azerbaijan National Academy of Sciences. He noted that while the country’s GDP is not seeing substantial increases, this is primarily due to an objective decline in oil production.

According to Azeri-Press News Agency, President Aliyev stated that the non-oil sector now serves as the main driving force of Azerbaijan’s economy, constituting the majority of the overall economic framework. This shift marks a strategic focus on diversifying economic activities beyond oil production.