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Average GDP growth in Azerbaijan totals 13 per cent in 10 years

Business Materials 15 March 2013 15:36 (UTC +04:00)
In 2003-2012, the average annual GDP growth in Azerbaijan totalled 13 per cent, and in the non-oil sector 10.6 per cent.
Average GDP growth in Azerbaijan totals 13 per cent in 10 years

Azerbaijan, Baku, 15 March / Trend A.Akhundov /

In 2003-2012, the average annual GDP growth in Azerbaijan totalled 13 per cent, and in the non-oil sector - 10.6 per cent.

This was stated by Prime Minister Artur Rasizade during a discussion of the government's report on last year's outcomes in parliament.

"In 2003-2012 capital investments increased by 7.3 times, the economy has grown more than three-fold and investments in the economy amounted to $132 billion," Rasizade said.

According to him, during the reporting period the state budget increased 19-fold, strategic currency reserves by 29-fold, lending to the economy by 20.5 times, income of population by 6.9-fold, average monthly salary by 6.3 times and average pensions by 6.4 times. During this period, over one million jobs were created and the poverty rate declined from 44.7 per cent to six per cent.

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