By 2050, Azerbaijan may enter the list of high-income countries.

"APA-Economics" informs that this was said by Sara Michael, the country manager of the World Bank for Azerbaijan, during the discussion of "Azerbaijan: Economic Memorandum on the Country" at ADA University.

He said that the average annual growth of GDP in Azerbaijan may be 1.7% by 2024-2050: "This has a significant impact on GDP per capita. In this case, GDP per capita will be 10,250 USD by 2050. can reach $100,000 and make the average Azerbaijani 40 percent richer compared to the current growth trajectory.

S. Mike added that the main factors of long-term growth are the improvement of productivity in the non-energy sector and the creation of human capital.

A more ambitious set of reforms that accelerate structural transformation and reduce inefficiencies could further increase productivity and average incomes.