President: Azerbaijan’s economy came out of recession
President of Azerbaijan Ilham Aliyev said that the country’s economy has overcome the recession, GDP growth in the first half of the year was 2.1%.
“Since the beginning of this year, the recession has been decreasing every month, and by the end of May, a slight increase in GDP was recorded. Following the results of 6 months, economic growth amounted to 2.1% and this is a good indicator,” Aliyev said in an interview with the state TV channel AzTv.
According to him, it is encouraging that the growth of non-oil GDP for the reporting period exceeded 5%.
The President noted that the decline in industrial production at the level of 0.3% in the first half of the year was due to a decrease in oil production as part of the OPEC + deal.