Top official: Azerbaijan created economic model based on democratic principles for 20 years (PHOTO)

Top official: Azerbaijan created economic model based on democratic principles for 20 years (PHOTO)

Azerbaijan, Baku, Dec. 3 / Trend M. Aliyev /

Azerbaijan, by strengthening political and economic independence, has developed statehood, and created its own economic model based on the principles of liberalism and democracy Over the past twenty years, Head of Azerbaijani Presidential Administration Ramiz Mehdiyev said at the international conference "Azerbaijan 2020: A look into the Future" in Baku on December 3.

The conference has been organized by the Strategic Studies Center under the Azerbaijani President, the United Nations Development Programme, "PwC Azerbaijan" company and the Azerbaijani Youth Fund.

Mehdiyev said significant achievements have been achieved in reducing poverty and improving social welfare during this period.

"In fact, the success of Azerbaijan's statehood became possible due to the implementation of the principles laid by Azerbaijani national leader Heydar Aliyev," he said. "Azerbaijani national leader Heydar Aliyev's political course has supported the further prospects for development, integration of not only Azerbaijan, but also the whole region, into the world politics and economy."

Signing the "Contract of the Century" opened up new prospects for Azerbaijan, has created the opportunities for the construction of the Baku-Tbilisi-Ceyhan export oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline and other meaningful projects.

These regional initiatives have given a real significance to strengthening the regional countries, which have just gained independence.

Considering global and regional specifics, economic basis of political independence was formed as a result of the conducted policy.

After primarily resolving the problems with the economic and food security, Azerbaijan attached irreversible feature to the development of economic independence as a whole.

The dynamics of the most rapid economic growth in the world has offered the conditions for improving Azerbaijan's image in the regional and global scale, and turning it into a new geo-economic player.

By using its reserves, economic resources and opportunities, favorable geographical location, along with the development of its economic potential, Azerbaijan has given impetus to the regional cooperation.

Thus, Azerbaijan has created a model of new regional geo-economic power center, which can be exemplary for the whole world.

Considering dynamic socio-economic development, improvement of social welfare and progress of the diversification policy, the international rating agencies have objectively assessed the stable reforms in the country, by preserving Azerbaijan's rating at the investment level.

Presently, Azerbaijan holds leading positions in the CIS for its credit rating. Azerbaijan's achievements amid the global economic crisis, when the credit ratings of leading world countries have been declining, are the logical results of President Ilham Aliyev's continuing the economic policy, which was launched by Azerbaijani national leader Heydar Aliyev.

As a result of the president's policy, the average annual GDP growth rate in the country hit 14.2 percent, while 10.7 percent in the non-oil sector in 2003-2011.

In 2003-2011, country's strategic currency reserves increased by 25.3 times, the state budget by 16.6 times, banks' assets volumes by 10.4 times, nominal wages by 5.9 times, average nominal monthly pension by 6.1 times. The poverty level has decreased from 44.7 percent to 7.6 percent.

As a result of President Ilham Aliyev's policy, great success has been achieved in the areas of economic diversification and improvement of Azerbaijan's social welfare.

Thus, Azerbaijan has completed the transition period and amid the global and regional challenges, the country is on the threshold of a new stage both from 'qualitative and quantitative' points of views'.

A strong economy assembles the material basis for democratic development. The successful implementation of political and economic reforms in Azerbaijan has been aimed to ensure a sustainable development.

"Very important success has been reached in the areas of human freedom, development of democracy, establishment of a legal state and civil society," Mehdiyev said.

He noted that Azerbaijan has turned democracy into its political philosophy and has conducted the necessary reforms in a short period of time.

"These reforms, along with Azerbaijan's integration into the world community, serve to strengthen the internal stability. This is a success of national leader Heydar Aliyev's strategy and President Ilham Aliyev's activity," Mehdiyev noted.

Subscribe to Trend in Google News! Subscribe
Iran reveals COVID-19 data for November 25
Iran reveals COVID-19 data for November 25
Iran reveals COVID-19 data for November 24
Iran reveals COVID-19 data for November 24
Iran updates COVID-19 protocols for international travelers
Iran updates COVID-19 protocols for international travelers
Loading Bars
Latest
South Africa says travel bans over new variant unjustified
US announces travel restrictions over new COVID-19 variant
At least 19 dead, 32 injured after bus crash in Mexico
US company Moderna begins work on vaccine against new SARS-CoV-2 variant ‘Omicron’
Dozens of COVID-19 cases on flight from South Africa, Dutch authorities say
Top Iran diplomat calls for lifting of sanctions, days before Vienna nuclear talks
U.S. President Biden calls for intellectual property protection waivers on COVID-19 vaccines
WTO postpones major meeting over COVID-19 concerns - sources
487 illegal immigrants rescued off Tunisian coast: ministry
WHO names new COVID variant Omicron
Sochi meeting is tremendous step in right direction; Armenia must act quickly in order to intercept its abandoned priorities - experts
Turkey to support Qatar's regional and international goals: Shentop
Kazakh President holds talks with President of European Commission
Statement by President of Azerbaijan, PM of Armenia and President of Russia published
Georgia carries out judicial reform with support of U.S., MP Okhanashvili says
Iranian, Malaysian FMs discuss bilateral ties
Foreign Ministry comments on trilateral meeting of leaders of Azerbaijan, Russia and Armenia
Putin discusses results of meeting with President of Azerbaijan Ilham Aliyev and Prime Minister of Armenia Nikol Pashinyan with Security Council
Vladimir Putin announces agreement on unblocking transport corridors between Azerbaijan and Armenia
Commission for delimitation of border between Azerbaijan and Armenia to be created
We numerously publicly stated that we are ready to start delimitation process - President Ilham Aliyev
After military hostilities ended, over 100 Armenian servicemen were returned to Armenian side - President Ilham Aliyev
Trilateral working group of Azerbaijan, Russia and Armenia to hold meeting next week in Moscow - Putin
President Ilham Aliyev ends his working visit to Sochi
Agreement reached on creation of mechanisms for demarcation and delimitation of border between Azerbaijan and Armenia before year end - Putin
Decisions taken at trilateral meeting in Sochi to contribute to safer and more predictable situation in South Caucasus - President Aliyev
Baku holds award ceremony of winners of second day of 28th FIG Trampoline Gymnastics World Age Group Competitions (PHOTO)
Kazakhstan records growth in remittances to Azerbaijan since early 2021
Russian gymnasts grab gold in synchronized trampoline at 28th FIG World Age Group Competitions in Baku
Russian President, Azerbaijani President and Armenian Prime Minister make press statements (PHOTO/VIDEO)
Price indexes of financial, trade sectors at Uzbek stock exchange rise
US gymnasts rank first in synchronized trampoline among men at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku
Azerbaijan approves boundaries of protected zone of State Reserve of Shusha city
Russian gymnasts grab gold, silver, bronze in double mini-trampoline among men at 28th FIG World Age Group Competitions in Baku
Russian-Turkish ceasefire monitoring center working hard - President Putin
French gymnast grabs gold in tumbling among women at 28th FIG World Age Group Competitions in Baku
Best moments of second day of 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku (PHOTO)
Uzbekistan building power unit complex for nuclear plant in Jizzakh region
Body of another Armenian serviceman found on Azerbaijan's liberated lands
Russian gymnast grabs gold in tumbling among men at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku
Footage of warm meeting between Azerbaijani, Russian presidents in Sochi (VIDEO)
Portuguese gymnast ranks first in individual trampoline at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku (PHOTO)
Russian gymnast ranks first in double mini-trampoline at 28th FIG World Age Group Competitions in Baku
Georgia, Serbia working to strike a free trade agreement
Excellent conditions created for Azerbaijani students in Russia - President Ilham Aliyev
Cargo transportation volume between Azerbaijan, Turkmenistan revealed
Volume of freight traffic between Azerbaijan, Kazakhstan for 10M2021 revealed
Russian gymnast grabs gold in individual trampoline at 28th FIG World Age Group Competitions in Baku
Turkey reveals volume of vehicle shipments between its Mersin, Italian Trieste ports
We characterize our relations with Russia as those of strategic partners - President Ilham Aliyev
Conditions being created for future normal life in region – Russian president
Finalists in synchronized trampoline jumping among women announced at 28th FIG World Age Group Competitions in Baku
Azerbaijan was maximally constructive on eliminating consequences of Karabakh war, unblocking communications - President Aliyev
Uzbekistan, Kazakhstan sign investment and commercial contracts
Georgia shares its top wine export destinations
Turkey reveals volume of cargo shipment via its ports from Ukraine for 9M2021
Nar upholds positive dynamics in telecom market
Finalists in double mini-trampoline among men unveiled at 28th FIG World Age Group Competitions in Baku
Russian president to hold operational meeting with permanent members of Russia's Security Council
Azerbaijan's non-oil export reached highest level since early 2021 - deputy minister
Finalists in tumbling among women unveiled at 28th FIG World Age Group Competitions in Baku
Kadimastem seeks Nasdaq listing, raises $3.2m from ILEX
Trilateral meeting between Azerbaijani, Russian presidents, Armenian PM held in Sochi (PHOTO/VIDEO)
Azerbaijan increases its revenues from gas supplies via pipelines in 9M2021
Azerbaijani gymnasts reach finals of 28th FIG World Age Group Competitions in synchronized trampoline
Georgia’s exports of copper ores decrease
Putin, Indian PM to discuss privileged strategic partnership on Dec 6 — Kremlin
Azerbaijan reveals current state of road projects implemented in Karabakh, East Zangazur (VIDEO)
Georgia shares data on import, export price indices
Turkey's cargo, passenger traffic at Ankara Esenboga Airport grows in 10M2021
Volume of trade between Azerbaijan and Russia increased - Russian president
Turkey's cargo traffic via Karasu port for 9M2021 disclosed
Finalists in individual trampoline among men and women unveiled at 28th FIG World Age Group Competitions in Baku
Leading Uzbek banks in terms of volume of assets unveiled
Since beginning of operation of Russian peacekeeping forces on 10 November last year, there have been no major incidents in area of responsibility of Russian peacekeepers - President Ilham Aliyev
SOCAR Petroleum commissions gas station in Azerbaijan's Gubadli district
Azerbaijan’s Nakhchivan reveals loans issued to individuals, legal entities for 10M2021
Russia hopes to outline promising directions to normalize relations between Baku and Yerevan in Sochi - MFA
Passenger cars manufacturing on rise in Kazakhstan
US embassy in Azerbaijan donates trees in honor of local staff
Georgia, Qatar plan to expand economic ties
Plastic cards usage increases in Kazakhstan
IMF forecasts Azerbaijan’s nominal GDP till 2025
VISA reveals main directions of work in Azerbaijan (Exclusive)
Bilateral meeting held between President Ilham Aliyev, President Vladimir Putin (PHOTO/VIDEO)
WHO meeting on Friday to designate new variant B.1.1.529
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,997 more COVID-19 cases, 2,319 recoveries
Azerbaijani Nakhchivan's revenues from communication services up for 10M2021
Israeli PM warns of state of emergency due to new coronavirus variant
Fixed capital investments in Azerbaijan’s Nakhchivan slightly increase in 10M2021
Finalists in double mini-trampoline among women unveiled at 28th FIG World Age Group Competitions in Baku
US gymnast talks about training for 28th FIG World Age Group Competitions in Baku
Georgia to fine enterprises for environmental damage
28th FIG Trampoline Gymnastics World Age Group Competitions underway in Baku (PHOTO)
Central Bank of Azerbaijan discloses foreign currency auction results
GDP of Azerbaijan's Nakhchivan grows in 10M2021
Georgia’s car imports increase
Baku creates excellent conditions at 28th FIG World Age Group Competitions – Ukrainian gymnast
Turkey shares data on vehicle shipments between its Samsun, Russian Novorossiysk ports
All news