Azerbaijan’s GDP ups by 3.4 times over last 10 years

Over the past 10 years, Azerbaijan's GDP increased 3.4 times, Azerbaijani Economic Development Minister Shahin Mustafayev said during an Azerbaijani-Romanian Business Forum in Baku today. He said the GDP per capita increased three-fold.

"During this period, the volume of industrial production in the country increased by 2.8 times," he said. "One million new jobs have been created in Azerbaijan since 2003 up till now. The unemployment rate reduced 1.8 times for the past eight years."

The state budget revenues over the last 10 years increased 19-fold. The state budget deficit is approximately at the level of one per cent of the GDP recently.

At present the country's strategic currency reserves exceed $46 billion. The country's external debt is about seven per cent of the GDP.


/Trend/