Baku, Azerbaijan, Nov. 12
By Emin Aliyev - Trend: The 2014 draft state budget of Azerbaijan reflects the country's economic reality, Speaker of the Azerbaijani Milli Mejlis (parliament), Ogtay Asadov said on Nov. 12, opening a parliamentary discussion of the budget package.
Informing MPs about the progress made by the country's economy over the past 10 years, Asadov expressed his confidence in the preservation of this tendency in the future.
"According to the outlook, the volume of the country's GDP by late 2013 will amount to 55 billion manats with an annual growth of 4.5 per cent. The forecast for 2014 shows that the GDP will grow to 58.6 billion manats, with growth rates of 5.2 per cent. Undoubtedly, these rates are to be achieved through development of the non-oil sector and it is obvious these tasks will be carried out successfully," Asadov said.
Official exchange rate for Nov. 12 is 0.7843 AZN/USD.