Azerbaijan, Baku, Feb. 23 / Trend , S.Aliyev/
Azerbaijan must reduce the possible future impact of the global financial crisis.
"I have no doubt that we will be able to do this," Azerbaijani President Ilham Aliyev said at the Gulustan Palace at a conference on outcomes of the government's regional socio-economic development program for 2004-2008.
In the past 5 years, the Azerbaijani economy grew 2.6 times. Income per capita hit $5,500. Industrial production grew 2.5 times. An additional 766,000 jobs were created. The poverty rate also declined from 49 to 13.2 percent. Azerbaijan's currency reserves hit $18 billion, he said.
As part of the program, new jobs were created, businesses established and regional development supported, Aliyev said. For these purposes, the country made investments, allocated loans on preferential terms, provided financial, moral and political support," President Aliyev said.
Azerbaijan is gradually reducing its dependence on oil, he added.
"The private sector is developing and discipline in the financial sector has improved," Aliyev said.
Azerbaijan's experience and policies show that state funds have been spent properly, he said.
"The revenues were invested in power engineering, gas supply and transportation projects, as well as the health, educational and humanitarian sectors. Oil revenues are distributed equitably in the country," Aliyev said.
According to the president, Azerbaijan has significant economic potential.
"The social sector was emphasized during the implementation of the project," he said.
The minimum wage grew 8.3 times. The minimum pension increased four-fold over 5 years. A total of 1,600 schools and hundreds of medical facilities were also opened.
"Azerbaijan has ensured food security. Countries that do not ensure energy, food and transportation security will face major problems," Aliyev said.
Some countries cannot cope and have to take foreign loans, he said.
"But Azerbaijan was also asked to issue loans," Aliyev added.
As a result of the state program, 9 power stations with an aggregate capacity of 1,000 megawatts were built in Azerbaijan. Another two stations with an aggregate capacity of 600 megawatts will be commissioned this year. Two more stations are being built, Aliyev said.
"Eighty-five percent of the Azerbaijani population is provided with gas. We intend to raise the figure to 93-95 percent - quite a big figure," he said.
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