Minister reveals GDP growth in Azerbaijan in 2013

The real GDP growth amounted to 5.8 percent, GDP growth in the non-oil sector - 9.8 percent in Azerbaijan in 2013. The country's GDP increased to 57 billion manat as of 2013, Azerbaijani Finance Minister Samir Sharifov said at a meeting of the Cabinet of Ministers chaired by Azerbaijani President Ilham Aliyev and dedicated to the socio-economic development in 2013 and the challenges for 2014.

"GDP per capita increased by 4.4 percent - up to 6.132 manat (about $8,000)," Sharifov said.

"The dynamics of the macroeconomic indices in 2013 demonstrates the successful implementation of the policy aimed at diversifying the country's economy," Sharifov said.

"The positive dynamics can also be seen in improving the welfare of the population," he said. "The average monthly salary increased by 6.2 percent - to 423 manat, the volume of paid services - by 8.2 percent (up to 6.5 billion manat) in 2013 compared to the previous year.

"During the reporting period, the value of the manat remained at a stable level," the minister said. "The inflation hit 2.4 percent which is less than the population's income growth. The amount of the population's deposits in banks increased by 34 percent - to 6.8 billion manat in 2013."

The official exchange rate is 0.7844 AZN/USD on Jan. 10.


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