Azerbaijan's economic diversification has become a response to important challenges, Shahmar Hajiyev, Assistant to the President of Azerbaijan and Head of the Department of Economic Issues and Innovative Development Policy of the Presidential Administration, said on Monday.
He made the remarks during the presentation of the World Bank's annual global "World Development Report" in Baku, News.Az reports, citing local media.
Movsumov noted that Azerbaijan’s non-oil sector has grown significantly, reaching 68% of GDP in 2024, up from 49% in 2011.
The presidential aide attributed this shift to efforts aimed at building a more balanced and sustainable economy, improving the welfare of the population, and reducing poverty.
Movsumov also acknowledged the World Bank's pivotal role in Azerbaijan’s development, with key support in agriculture, healthcare, transport, and infrastructure since the country’s accession in 1992.
