2024-03-18 00:25:21
Macroeconomic and financial stability has been ensured in Azerbaijan.
As Day.Az reported on Friday, Prime Minister of Azerbaijan Ali Asadov said this during a discussion in the Milli Majlis (parliament) of the report on the activities of the Cabinet of Ministers in 2023.
He noted that during the reporting year, the country produced a gross domestic product (GDP) of 123 billion manats, or 1.1 percent more in real terms than in 2022.
“GDP per capita increased by 0.5 percent and amounted to 12.1 thousand manats (7.1 thousand US dollars). In 2023, GDP in the oil and gas sector decreased by 1.7 percent compared to 2022, and in the non-oil and gas sector economy grew by 3.7 percent. The non-oil and gas industry grew by 8 percent. In 2023, our foreign trade turnover reached almost 45 billion US dollars with a trade surplus of 10.3 billion dollars. Non-oil exports grew by 9.8 percent and exceeded 3. $3 billion In 2023, the country’s strategic foreign exchange reserves grew by 17 percent, or $10 billion, to $68.5 billion (representing 95 percent of GDP), more than 10 times the external public debt. by the end of 2023, the volume of external public debt decreased by 3.5 percent to 6.46 billion US dollars and amounted to 8.9 percent of GDP,” A. Asadov said.
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