The growth in Azerbaijani economy is promoted by the competent policy of modernization of the country held by President Ilham Aliyev.
The statement came from Azerbaijani Prime Minister Artur Rasizade at the session of Milli Majlis where the governmental report for 2011 will be presented.
'The volume of Azerbaijan’s GDP has grown thrice since 2003, the state budget costs by 12.9 times, investments by 5 times, including 14.1 times in nonoil sector, 2.6 times in real incomes of the population. Over 1 million new jobs were created in the country and poverty rate dropped by 5.3 times', Rasizade said.
He noted that despite the continuing world economic crisis, influential international rating agencies highly appreciate the level of Azerbaijan’s economic development.
'The 9.4% growth in nonoil sector was ensured as a result of economic diversification in 2011', Rasizade said.
Investments in main capital from all financial sources made $12.8bn, including domestic capital investment making 80.3%.
'Trade turnover has grown by 30% to $36bn. Strategic monetary reserves have topped $40bn', the premier said.
Rasizade also noted that macroeconomic stability, manat stability was ensured in Azerbaijan in 2011, inflation is kept one-digit, which caused the growth in real incomes of the population.
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