Azernews.Az

Akbar Novruz

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Azerbaijan is targeting an 88% private sector share in GDP by 2026, as part of its economic development strategy, Azernews reports.

According to Huseyn Huseynov, Head of the Department of Sustainable Development and Social Policy at the Ministry of Economy, this goal aligns with the 2022-2026 social strategy, which aims to:

• Increase non-oil exports by 1.8 times compared to 2021,
• Grow non-oil and gas GDP by 1.3 times,
• Boost overall GDP growth by 1.2 times, maintaining an annual growth rate of 3-4%.

Speaking at the "High-Level Strategic Prioritization" event on the UN-Azerbaijan Framework Document for Sustainable Development (2026-2030), Huseynov emphasized key social priorities, including:

• Increasing wages and improving living standards,
• Expanding private sector employment,
• Enhancing women’s access to economic opportunities,
• Reducing disparities between urban and rural areas,
• Addressing informal employment.