President of Azerbaijan presides over cabinet meeting on socioeconomic results of 2008

In his opening remarks, the Head of Azerbaijan State said that though 2008 has entered the world history as a year of financial crisis, as in previous years, the last year was successful for Azerbaijan. The President linked this success to serious works done for development of Azerbaijan. Noting the population`s incomes have raised 36 percent, President Aliyev stressed the notable level of poverty reduction in the country, pointing to a 50 percent raise of minimum wages and pensions. He noted that now the average monthly wages in Azerbaijan make up $335, while the monthly pension averaged $120. The successful program of targeted social assistance will be continued in 2009, the President said.

Speaking of diversification of economy and realization of new infrastructure projects as a result of successful implementation of the state program of social and economic development of regions, the Head of State said: "Currently a new program is being outlined for the coming 5 years. Over the last 5 years, 766 thousand new workplaces were opened, of which, 548 thousand are permanent. In 2008 alone, we created more than 120 thousand new jobs."

Noting inadmissibility of linking Azerbaijan`s development to oil and gas factor only, President Ilham Aliyev ascertained that the "expedient policy, protection of national interests of the country and democratic reforms have stimulated our economic successes". "In 2008 the World Bank has declared Azerbaijan the “top reformer of the year", he added.

The Head of State further said: "Despite financial crisis observed in the world, the state budget for 2009 has increased. Expenses of this year`s state budget make up $15.4 billion, while the consolidated budget is $18.4 billion. Today, Azerbaijan`s currency reserves exceed $18 billion."

"The successes in power sector of the country have also strengthened our positions", the President emphasized. "Azerbaijan has completely provided its power security and become a reliable partner for the world. Now, seven oil and gas pipelines transport Azerbaijan`s oil and gas to the world markets. Our country is taking serious measures in transport sector, with construction of the Baku-Tbilisi-Kars railway successfully continuing."

President Ilham Aliyev underlined that Azerbaijan`s positions in settlement of the Nagorno-Karabakh conflict continued to strengthened in 2008. He described adoption of the UN General Assembly resolution supporting Azerbaijan`s position as a political and diplomatic success of the country, and the Moscow Declaration later signed by the Presidents of Azerbaijan and Armenia as a continuation of this success. He stressed that provisions of the Declaration completely reflect our country`s position and aim to resolve the conflict on the basis of principles of international law.

The Head of State said in 2009 the military budget has grown to $2.3 billion.

President Ilham Aliyev assessed the presidential elections as one of the last year`s most important events, saying: "Results of these elections have demonstrated that the Azerbaijani people welcome and support the policy of the present authorities."

The President`s remarks followed by reports by Minister of Finance Samir Sharifov, Minister of Economic Development Shahin Mustafayev, Chairman of the Board of National Bank Elman Rustamov who highlighted social and economic development of the country in 2008.

In his final remarks, President Ilham Aliyev noted that one of the main goals in 2009 is to minimize consequences of the world financial crisis in Azerbaijan. The Head of State once again dwelled on successes of the country`s power policy, underlining that "Azerbaijan has become a gas exporting country, with domestic gas supply reaching 85 percent."

In case that a transit agreement on transportation of the Azerbaijan gas is signed in 2009, it will be exported to Greece and Bulgaria. Now, the minimum volume of gas reserves in Azerbaijan makes up 2 trillion cubic meters.

President Ilham Aliyev gave certain instructions on taking serious measures to develop bank sector, to realize social programs, to increase living standard of the internally displaced persons and to provide government support to enterprises, whose export potential has suffered as a result of the financial crisis.

The Head of State emphasized the necessity of fulfilling all tasks set forth in 2009 focusing on further improvement of well-being of Azerbaijani citizens.

/AzerTac/