The economy diversification program under successful implementation in Azerbaijan will reduce the share of the oil sector in GDP to 29.3 percent in 2015 from 48.5 percent in 2010, Shahin Mustafayev, Economic Development Minister, told the Parliament said during the discussion of the draft state budget for 2012 and subsequent three years.

"As a result, the share of non-oil sector in GDP will increase from 44.4 percent to 61.3 percent in 2015," he  said. As in recent years, economic growth will be achieved through non-oil sector in 2012 and the growth of this sector is projected at 8.6 percent, and in the next three years to an average of eight percent.

"It is the result of policies aimed to rapid development of non-oil sector, diversifying the economy," Mustafaev said.

/Trend/