TODAY.AZ / Business

Population deposits hits record high in Azerbaijan

29 January 2015 [13:25] - TODAY.AZ

/By AzerNews/

By Gulgiz Dadashova

The volume of deposits of population in Azerbaijani banks increased by 12.4 percent in 2014 and hit 7.2 billion manats ($9.2 billion) as of January 1, 2015.

Rauf Salimov, Deputy Chairman of the State Statistics Committee announced about this at the event dedicated to the socio-economic development in 2014 held at the Azerbaijan State Economic University.

He further noted that only Azerbaijan’s manat retained its rate in 2014 among the national currencies of the CIS countries. “In 2014, income of the population has increased by 4.8 percent. The average salary amounted to 443 manats, the average monthly pension - 173.4 manats,” he added.

The country’s economy grew at an average annual rate of 11.5 percent during the past 11 years, Salimov said. “This figure is the highest among the world countries, according to the International Monetary Fund. During the same period, a positive trend of about 10 percent annually was recorded in the non-oil sector,” he said.

Salimov said the industrial sector saw a decrease of 0.7 percent, while the non-oil sector saw a growth of 6.9 percent in 2014. “If we take into account the processes taking place in the global economy, the financial market, it is an indicator of success,” he said.

The country attracted investments in the amount of 21.8 billion manats and 58.5 percent of these funds account for domestic sources. He said that the investment volume of Azerbaijan in foreign countries was also increased.

“In 2014, 127,000 new jobs were created, which led to the reduction of unemployment and poverty in the country,” Salimov said. “That is, the unemployment rate fell by 0.1 percent and amounted to 4.9 percent, the poverty level - by 0.3 percent and amounted to 5 percent.”

The real growth of the national economy is expected at the level of 4.4 percent in 2015, and the volume of GDP in market prices will amount to 59.8 billion manats ($76,364 billion).

The revenues of Azerbaijan's state budget for 2015 are forecasted at 19.438 billion manats (32.5 percent of GDP). This comes as estimations put the expenditures at 21.1 billion manats (35.3 percent of GDP).

URL: http://www.today.az/news/business/138506.html

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