Azerbaijan's GDP to reach 82.7B AZN

Azerbaijan’s GDP for 2020 is projected to make up 82.7 billion manats, said Prime Minister of Azerbaijan Novruz Mammadov, Trend reports referring to the cabinet.

According to him, real GDP growth is projected at 2.4 percent, including a 3.3-percent increase in the non-oil sector.

According to the forecasts, state budget revenues in 2020 will amount to 29.1 percent of GDP, expenditures to 30.9 percent, and deficit to 1.4 percent.

Mammadov also noted that the revenues of the consolidated state budget for the next year are projected at 27.6 billion manats, while expenses are projected at 28.2 billion manats.

As previously reported, next year's state budget revenues are projected at $24.484 billion, which is 5.7 percent or 1.316 billion manats higher than the figures for the current year. State budget expenditures in 2020 are projected at 25.617 billion manats, which is 427.7 million manats more than in 2019.