Baku, Azerbaijan, Oct.13
By Anvar Mammadov - Trend:
The revenues of Azerbaijan's state budget stood at 12.1 billion manats, while its expenditures totaled 11.7 billion manats in Jan.-Sept. of 2015, the country's Minister of Economy and Industry Shahin Mustafayev said.
The official exchange rate on Oct.13 is 1.0475 AZN/USD.
He made the remarks during the meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in the first nine months of 2015 and objectives for the future.
The minister said that 68.4 percent of the budget revenues accounts for the non-oil sector, or 11.6 percent more than in the same period of 2014.
"During this period, 11.8 billion manats were invested in the fixed capital from all financial sources to develop the economic and social spheres," said the minister.
The work on constructing road and transport, energy, gas infrastructure, social facilities, improving the water supply and sewerage, as well as on other projects continued as part of the state investment project, he added.
Mustafayev noted that Azerbaijan's GDP has increased by 3.7 percent in the first nine months of 2015.
"The real growth rate of the non-oil sector stood at 6.4 percent," he said. "Like in previous years, as a result of pursuing the policy of diversification, economic growth was ensured in the country thanks to the development of the non-oil sector in Jan.-Sept. of 2015."
In total, the added value in the non-oil sector has increased by over eight times compared to 2003, while the share of this sector in the GDP has reached 68.8 percent, according to the minister.
During the reporting period, the industrial sector has increased by 2.1 percent, including non-oil industry - 10.2 percent, the growth in the value-added production in agriculture stood at 6.7 percent, information and communication services - 8.8 percent, retail trade - 11.4 percent, paid services rendered to the population - 6.2 percent, said Mustafayev, adding that the Inflation stood at 3.7 percent.
The minister noted that the population's income has increased by 5.8 percent, while the income per capita saw 4.5 percent growth in the first nine months of 2015.
The average monthly salary has increased by 4.4 percent in Jan.-Aug. and stood at 460 manats, said Mustafayev, adding that 87,000 new jobs were created and all social programs were implemented successfully.
Edited by SI
---
Follow the author on Twitter: @Anvar_Mammadov