Azerbaijani official: Economic growth in Azerbaijan becomes one of main tools expanding citizens' choice

The economic growth, recently observed in Azerbaijan, has become one of the main tools allowing expanding choice and potential of citizens of the country, the head of the Azerbaijani Presidential Administration, Ramiz Mehdiyev, said at a UNDP presentation on the Human Development Index in Baku on Nov. 4.

"GDP growth in the pre-crisis period varied within the limits of 30%. This is one of the highest rates in the world. Despite intensifying global financial crisis in 2008, President Aliyev's strong economic policy protected the country from the negative effects of the crisis," he said.

He said that GDP increased by 10.8% to $ 40 billion in 2008.

"GDP growth amounted to 9.3% in 2009. An average annual inflation ratio did not exceed 6%. The inflation hit 4.9% in the first half of 2010 compared to the same period of 2009. The population's income increased by 11%. It deals with the fact that the revival of economic activity stipulated the increase in funds in the country," he said.

Mehdiyev said that at present, Azerbaijan's state budget makes $15 billion, and strategic currency reserves $28 billion. "Oil revenues are accumulated in SOFAZ. İt received a special prize from the UN for its transparent activity."

Special attention is paid to social justice in the context of rapid progress of economy and new economic relations created in the country.

"This is primarily seen in creating equal opportunities and conditions. In this regard, special duties are assigned to Azerbaijan," he added.

He said that strengthening the economy helped, to resolve the problem with unemployment, on the one hand, and led to poverty reduction on the other. The poverty ration in the country declined from 29.3% in 2005 up to 11 percent in 2009.

"There evolved a need for new labor force due to rapid economic development. Over 900,000 new jobs have been recently created and 600,000 of them are permanent jobs," Mehdiyev underscored.

The existence of acceptable business environment in the country allowed for the formation of the middle class. It forms the basis of a market economy, he said.

"This is based on the state support of entrepreneurship", Mehdiyev said.


/Trend/