Azernews.Az

The emphasis on Gross Domestic Product (GDP) as the primary economic indicator has long been critiqued for its inability to account for social and environmental well-being. GDP reflects the total market value of goods and services produced in a country but fails to consider the distribution of wealth, environmental degradation, or social equity. In Azerbaijan, as the data shows, the non-oil and gas sector is growing, which suggests a shift towards a more diversified economy. However, the country’s dependency on the oil and gas sector still remains a key vulnerability.

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