Azerbaijan – first country in CIS for volume of investments in its economy
Baku, Azerbaijan, Oct.9
By Anvar Mammadov - Trend:
Azerbaijan significantly outstrips the neighboring countries for the economic growth, Ziyad Samadzade, head of Azerbaijani parliament's economic policy committee said Oct.9.
The MP made the remarks during the 5th Eurasian Forum of Accountants and Auditors in Baku.
Rapid economic development has been observed in Azerbaijan over the last 10 years, said Samadzade.
The country's GDP has grown by 3.6 times, the currency reserve, the number of social programs has increased and the poverty level has dropped from 49 percent to 5 percent during this period, the MP added.
All these factors prove Azerbaijan's successful economic development, according to Samadzade.
Despite the difficult situation in the region, Azerbaijan has not only preserved its investment attractiveness, but also took the lead in CIS for the volume of investments made in the country, according to the MP.
He noted that around $200 billion worth investments have been made in Azerbaijan's economy over the last 10-15 years which is the highest level in CIS.
Although the Azerbaijan lands have been occupied by Armenia for over 20 years, the volume of investments in Azerbaijan is by 8-9 percent more than the volume of investments which Armenia has made in its economy, the MP added.
Edited by SI
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