"The Central Bank of Azerbaijan (CBA) has improved its economic growth forecast for the non-oil sector," Governor of Central Bank of the Republic of Azerbaijan Taleh Kazimov said at a press conference held today, Paralel.Az-Economics reports.

He noted that the Central Bank has set its economic growth forecast at 3.9% for 2024 and 3.3% for 2025.

The economic growth forecast for the non-oil sector is expected to be 6.5% for this year and 5.1% for 2025. The previous CBA forecast was 5.7% and 4.4%, respectively.

"The reason for this is the increase in consumption within households and the public sector," added Taleh Kazimov.