Azerbaijan determines priority spheres for int'l cooperation
Azerbaijan, Baku, Oct. 29 / Trend N. Ismayilova /
The priority area for cooperation between Azerbaijan and the international financial institutions in the medium term prospect is to diversify the country's economy, the draft concept of socio-economic development for 2012 and the next three years, submitted to the Azerbaijani Parliament said.
The priority areas for cooperation are the development of non-oil sector (agriculture, tourism and other spheres), regional development, infrastructure (transport, water supply, energy sector). An important area is to develop the country's private sector, especially small and medium business, as well as the development of alternative energy sources.
According to the draft concept, the average annual growth of foreign investments is projected at 41.5 percent, in 2013 - 30.4 percent, in 2014 - 15.4 percent, in 2015 - 8.4 percent. As of 2011, foreign investments are expected to be made to the amount of 2.809.9 billion manat, in 2012 - 4.013.4 billion manat, in 2013 - 5.303.7 billion manat, in 2014 - 6.089.4 billion manat, in 2015 - 6.606.9 billion manat.
The official exchange rate is 0.7869 manat to $1.