Azerbaijan sees over threefold growth in GDP – presidential aide (UPDATE)

Business Materials 11 March 2016 11:16 (UTC +04:00)
Azerbaijan’s GDP has grown by 3.2 times over the last ten years.

Details added (first version posted on 10:44)

Baku, Azerbaijan, March 11

Azerbaijan's GDP has grown by 3.2 times over the last ten years, Natiq Amirov, Azerbaijani presidential aide on economic reforms, said March 11.

He made the remarks during the roundtable on AmCham Support to Economic Reforms.

"During this period, the non-oil sector has grown by 2.6 times, industrial production - 2.7 times, agriculture - 1.5 times, investments - 6.5 times and the average monthly salary - 5.5 percent," said Amirov.

The presidential aide noted that over 1.2 million jobs, including, 900,000 permanent jobs and 55,600 enterprises were created in Azerbaijan as a result of the measures taken by the country.

"The unemployment rate has dropped to five percent, while poverty has decreased to 5.3 percent," said Amirov.

"Over $130 billion was invested in Azerbaijan's economy. The foreign trade turnover and the non-oil export have grown by 6.4 times and 4.5 times, respectively," he added.

During this period, 19,400 business entities have received preferential loans worth of over 1.2 billion manats, Amirov said.