Azerbaijan : Inclusive Growth in a Resource-Rich Economy
Azerbaijan experienced a 'golden
age' in the last decade, during which the average
growth rate reached record high levels and poverty decreased
significantly. On average, the economy grew by 15.3 percent
per year in real terms during this period, mainly driven by
the oil sector (21.5 percent growth per year), but with a
significant contribution from the non-oil sector (11.1
percent per year). As a result, poverty declined