Azerbaijani President Ilham Aliyev held a meeting of the Cabinet of Ministers on 8 May on the results of socio-economic development of the country in the first quarter of 2006, Trend reports.
The head of state appraised the general socio-economic development of the country in the first months of 2006.
Over the first quarter of 2006 the volume of GDP in Azerbaijan grew 39%, industrial production 47%, amount of average monthly wage 20%, community incomes 18 %. The consumer prices in the country rose 5.5% as compared to 2005, Aliyev added. He noted that over the last few months the remittances to the Pension Fund also rose (approx. 19
It all comes as the result of countrys right policy, the Azerbaijani president noted. The strengthening of the countrys potential not only consolidated its position, but also enabled to make more and more influence on the processes developing in the region. Azerbaijani president said that the strengthening of the Azerbaijani economy provided increase of budget assignments to needs of the social sector.
The head of state noted that the growth pace of economic progress necessitates the review of parameters of the public budget and development of new programs on development of Azerbaijani regions.
Aliyev gave relevant instructions on the intensification of the work over social development of Azerbaijan. He noted the necessity for strengthening of a control over inflation, acceleration of work over development of a program on development of industrial potential, revival of activities of the state investment company, conduct of measures stimulating development of the non-oil sector.
The gathering took reports from some ministers on the results of the development of the country in the first quarter of 2006.
In his final remarks Aliyev Azerbaijans currency reserves comprise $2.6bn and the figure will increase along with oil export.
Im sure that 2006 will be very successful for Azerbaijan, the head of state concluded.