Azerbaijani economy and national currency is strong enough to remain stable: president
Azerbaijan, Baku, July 23 / Trend /
The Azerbaijani economy and national currency is strong enough to remain stable, Azerbaijani President Ilham Aliyev said at the governmental meeting on the results of the country's socio-economic development in January-June, AzerTaj news agency reported.
"Unlike other countries, our national currency has not undergone devaluation. This is too important economic and social indicator," Ilham Aliyev said. "Some countries held artificial devaluation in an effort to promote local producers' opportunities. We also could do it, but did not, because we first should care about people's living conditions."
The president has expressed his confidence that there will not be any changes in this field in coming months.
Besides growth of revenues in the country, people's average salary increased by 15-19 percent and inflation ratio remains at a 3.7-percent level which is a perfect index, Aliyev said. Inflation was measured by higher figures in previous years.
"The inflation ratio was 20 percent in 2008. Indeed, an economic growth was much higher last year than this. But I am confident that Azerbaijan's economy will develop with much higher rates next years in a long-term perspective, because we have enough financial resources," the president said.
Investment will be made in infrastructure projects and loaning policy will be pursued this year, as well as subsequent years, the head of state added.
"At the same time, giant foreign and local investment will be put in our country in future through activities of the Azerbaijan State Investment Company," the president said.