“Alongside modernization of infrastructure and socially important facilities, new industrial economic zones focused on the production and export of non-oil and gas products will be created. According to our estimates, in 2023, when projects in Karabakh gain momentum and attract not only budgetary but also foreign investments, their contribution to economic growth may amount to 2.5 pps.,” she noted, Report informs.
At the same time, new projects aimed at the development of major transportation routes will ensure growth in the share of this sector in Azerbaijan’s GDP to nearly 20% by 2024, she added. To recap, in pre-pandemic 2019, the contribution from the transportation sector to Azerbaijan’s GDP barely exceeded 10%.
