"Main goal is to bring Azerbaijan to level of developed countries"

  26 April 2017    Read: 1291
"Main goal is to bring Azerbaijan to level of developed countries"
Under the chairmanship of President Ilham Aliyev, deep economic reforms continues in 2003-2014, Azerbaijan’s economy turned into one of the most rapidly increasing economies of the world. In a short-period, Azerbaijan has become an upper-middle-income country, socio-economic infrastructure was completely renewed, ranked at 37th for global competitiveness, President’s aide on economic reforms Natig Amirov said in his interview to Azerbaijan newspaper.
According to him, the country grew six-fold during these years, per head income increased fivefold: “Price stability was preserved, large amount of strategic currency reserves were formed, international competitiveness was preserved. Azerbaijan is one of the leading countries in CIS and Eastern Europe for per capital investment and has already become a country making investment in foreign country”.

He noted that in order to systematically and regularly realize the measures considered for economic diversification, provide continuous development of non-oil sector and regions, improve the infrastructure and social services, two five-year State Programs on socio-economic development of Azerbaijan’s regions were executed in 2004-2013: “During these years, GDP rose 3.2 times, as well as non-oil sector 2.6 times, industry 2.7 times, agriculture 1.5 times, investments 6.5 times, personal incomes 6.5 times, average monthly salary 5.5 times. As a result of measures taken, over 1.2 million jobs, including 900 permanent jobs, were launched, 55,600 enterprises were established, unemployment dropped to 5%, poverty to 5.3%. Over $130 billion was invested in Azerbaijan’s economy, foreign trade turnover rose 6.4 fold, non-oil export increased 4.5 times”.

Amirov added that more than $AZN 1.2 billion preferential loans were allocated to 19,400 entities and 113,000 new jobs were launched: “State budget revenues increased 14.2 times, tax receipts 7.3 times, budget expenditures 13.9 times, personal savings 24 times, bank assets 18 times. Share of private sector in GDP makes up 83%, in employment – 73.9%”.

According to him, Azerbaijan’s successes are reflected in evaluation of international rating agencies.

“Under the chairmanship of president, Azerbaijan’s economy has entered a new stage since 2015. Directions of new economic reforms on transformation of global challenges to national economy were defined. So, on the background of global economic processes since 2016, several significant decisions were made for development of economy, improvement of investment and business environment, extension of entrepreneurship, increase of non-oil export potential, substitution of import, as well as provision of state support to local entrepreneurs”, he added.

Amirov said that according to latest report of the World Economic Forum, Azerbaijan is among the 50 most competitive countries of the world.

“As president Ilham Aliyev stated, the main goal is to bring Azerbaijan to the level of developed countries”, he said.

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