SSC chairman: GDP per capita in Azerbaijan increases by 7.5 times for 10 years
Azerbaijan, Baku, Dec.23 / Trend E. Ismayilov /
Over the past ten years, strategic currency reserves of Azerbaijan exceeded $28 billion, the Azerbaijani State Securities Committee Rufat Aslanli said on Thursday at a conference on "Azerbaijan's Development Strategy: 10 years of the 21st century".
"Foreign exchange reserves have increased during this time in ten times, exceeding 28 billion dollars," Aslanli said.
The result of the macro-economic reforms in Azerbaijan has become more than threefold growth of the economy. GDP per capita during the first decade of the 21st century grew in 7.5 times.
"This means the average annual economic growth of the country for ten years at 15.6 percent," Aslanli said.
The important point, according to Aslanli, is the fact that Azerbaijan was the only one among the countries experiencing the process of transformation after the fall of the Berlin Wall, where the gross domestic product increased by more than twice.
"Much attention over the years on improving the welfare of the country's population, and within ten years the average monthly salary has grown in 7.6 times, while unemployment was reduced by almost five times," Aslanli said.
As a result of carried out reforms to promote non-oil sector today one can say that the country's economic growth is achieved at the expense of the non-oil sector.