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Azerbaijan Leads in World Economy on Growth Rate of Non-Oil Sector

Business Materials 13 November 2008 16:46 (UTC +04:00)

Azerbaijan, Baku, 13 November / Trend corr. I.Khalilova / "Growth rate of the Azerbaijani non-oil sector has not exceeded averagely 13% within last eight years," Shahin Mustafayev, the Azerbaijani Minister of Economic Development said at a plenary meeting of the parliament on discussion of draft of the public budget-2009 on 13 November.

Average growth of the world economy fluctuated within limits of 4.2% in this period, while growth rate in the Asian countries, demonstrating high rates, amounted to 8.1%, 10.2% - in China and 7.3% in - Georgia.

According to Musafayev, growth of non-oil sector is forecast at averagely more than 10% annually from 209-2012. In accordance with forecasts, growth of industrial production will make up 9.4%, agriculture - 9% and transport - 13% in 2009.

"The most dynamical development is observed in the information and communication field, whose growth averagely made up 27.3% for last eight years and 31.2% - for last five years, Mustafayev said. Annual growth of ICT field will comprise 25% next years."

The exchange rate for US dollar is AZN 0.8104 on 13 November.

The correspondent can be contacted at [email protected]

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