Azerbaijan's strategic currency reserves cover five-year import of products

Photo: Azerbaijan's strategic currency reserves cover five-year import of products / Economy news

Baku, Azerbaijan, May 16
By Emin Aliyev - Trend:

The last year was characterized by the world's developed countries' activity on restoring economic growth and stimulating measures in this direction, chairman of the Azerbaijani Accounting Chamber Vugar Gulmammadov said while discussing the law on "Execution of the state budget for 2013" at the plenary session of the Azerbaijani Parliament on May 16.

"The activities carried out in the country under the leadership of President Aliyev allowed us to achieve real economic growth of 5.8 percent, GDP index per capita - about $8,000 and growth of non-oil sector at 10 percent," Gulmammadov said.

"These achievements are aimed at reflecting the goals of diversification and economic development set in the "Azerbaijan 2020: vision into the future" concept," he said.

"Moreover, during the year the country's strategic currency reserves were steadily growing during a year," he added. "They reached about 70 percent of GDP. The amount of foreign exchange reserves allows covering imports of goods and services within five years."

"The macroeconomic stability was ensured and development of the national economy continued in 2013," he said.

Edited by CN

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