Azerbaijan's economy is fastest growing in world: deputy minister of economic development
UK, London, December 8 / Trend special correspondent D.Nicholson /
Azerbaijan is not only the fastest growing economy in the world, but the top reforming country, according to the World Bank, stated Sevinj Hasanova, deputy minister of economic development of Azerbaijan, at the first official Azerbaijan investment conference in London, Trend special correspondent who attends the conference reported.
Overall GDP levels have increased by an astonishing five times over the past five years, reaching 34.5 per cent in 2006.
While GDP per head is now above $5,000, the population's standard of living has improved dramatically and poverty has fallen, Azerbaijan appears to have avoided the worst problems associated with the global recession. The sovereign wealth fund operated by SOFAZ now has more than $11 billion in assets and is helping to secure the future prosperity of the nation.