Azerbaijani President: Azerbaijan's economy continues to develop successfully this year - UPDATE

President of Azerbaijan Ilham Aliyev presided over a Cabinet meeting on the outcomes of the socio-economic development in the first quarter of 2010 on April 15.

The meeting started with opening remarks of the Head of State.

“The Azerbaijan's economy continued to develop successfully this year. All our socio-economic indicators are at a high level. The year 2009 entered history books as the crisis year but our economy grew by almost 10 percent this year,” the Azerbaijani leader said at the meeting.

Noting high economic growth in the Republic the President said: “Azerbaijan achieved accomplishments since our economy grew 2.8-fold in 2004-2009. The additional economic progress achieved this year once more shows that political, economic and social reforms implemented by us bring its results.”

“Our economy grew by 5.4-fold and industrial production by 5.6 percent. Given income of population increase – rise in the amount of deposits in banks by 30 percent is the best indicator of this – we will see that keeping inflation low does not have a negative impact on the people`s welfare”.

“All our macroeconomic indicators prove that the path chosen by Azerbaijan is right”.

Speaking of the State Investment program, the head of state said “there are neither financial nor technical problems in developing investment projects. As the country's technical opportunities grow the investment projects are successfully realized. The investment programs will be certainly implemented and of course at high level, President Aliyev emphasized.

The President especially noted the successful development of IT in the country: “Recently the World Economic Forum, an authoritative world organization, has awarded Azerbaijan the first place in the CIS space for development of the information-communication technology.”

As far as to the social questions go, President of Azerbaijan said “the most important condition for this is economic development. Without effective economic policy it is impossible to realize any social project, any social program. We successfully realize all of these programs”.

President Aliyev once again stated the stance of Azerbaijan on settlement of the Nagorno Karabakh conflict, underlining that the “dispute should be solved in the frame of international law”.

“We have reached such a phase that Armenia cannot continue its insidious and false policy”, the President stressed.

In discussions, speaking was the Minister of Taxes Fazil Mammadov, Minister of Labor and Social Protection of Population Fuzuli Alakbarov, Chairman of the State Customs Committee Aydin Aliyev, Chairman of the State Committee for Standardization, Metrology and Patent Ramiz Hasanov, who reported on the progress achieved by their agencies in the first quarter of 2010.

President Ilham Aliyev made closing remarks at the meeting.

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April 14
18:34

Today, President of Azerbaijan Ilham Aliyev has presided over a Cabinet meeting on the outcomes of the socio-economic development in the first quarter of 2010.

The meeting started with opening remarks of the Head of State. Minister of Taxes Fazil Mammadov, Minister of Labor and Social Protection of Population Fuzuli Alakbarov, Chairman of the State Customs Committee Aydin Aliyev, Chairman of the State Committee for Standardization, Metrology and Patent Ramiz Hasanov reported on the progress achieved by their agencies in the first quarter of 2010.

The President made closing remarks at the meeting.


/AzerTac/