Ilham Aliyev: Azerbaijan’s non-oil industry growth of more than 15% can be considered record indicator on global scale
Baku, Azerbaijan, Oct. 17
Azerbaijan’s non-oil industry growth of more than 15 percent can be considered a record indicator on a global scale, Azerbaijani President Ilham Aliyev said at the meeting on the economic area dedicated to the socio-economic results in the 9 months of 2019 and state and consolidated budget projects for 2020.
“The socioeconomic indicators for the first nine months of the year are positive,” Ilham Aliyev said. “Economic growth has been secured. It is gratifying that economic growth in the non-oil sector exceeds 3 percent. This suggests that diversification measures are bearing fruit. Of course, we would like this growth to be higher. I believe that there are enough opportunities and potential to achieve this. We simply need to use this potential with maximum efficiency.”
“High performance in the non-oil industry has been achieved again,” the Azerbaijani president noted. “Thus, our non-oil industry has increased by more than 15 percent. This indicates that the reforms carried out in recent years, especially the measures to develop the non-oil sector, are yielding results. I can say that our non-oil industry growth of more than 15 percent can be considered a record indicator on a global scale.”
“Along with this, as you know, major investments have been made in agriculture in recent years,” Ilham Aliyev added. “Agricultural development has been identified as a priority area. At the same time, in previous years I was somewhat surprised that with such a volume of investments, such support and the provision of subsidies and low-interest loans, growth in agriculture was only at 2-3 percent. At the present time, serious advances are being observed in this sector as well. Thus, agriculture grew by more than 7 percent in nine months.”