Details added (first version posted on 11:02)
Baku, Azerbaijan, March 6
By Matanat Nasibova - Trend:
Azerbaijan, according to the calculations of the World Bank (WB), has demonstrated economic growth of over 12 percent since the beginning of 2000, and is considered one of the states showing accelerated development rates, Azerbaijani Deputy Prime Minister Ali Ahmadov said, Trend reports.
Ahmadov was speaking in Baku March 6 at a forum “Economy Diversification - Role of Private Sector.”
This was mainly facilitated by the fundamental reforms carried out in recent years in the Azerbaijani economy and other areas, he said.
“At the same time, Azerbaijan faced serious challenges, the Nagorno-Karabakh conflict imposed by Armenia on our country,” he noted. “As a result, the country faced a humanitarian catastrophe, the presence of one million refugees and IDPs. Nevertheless, Azerbaijan continued its development, and today’s achievements clearly demonstrate the high level achieved in many areas, especially in the economic sphere.”
He added that the reforms carried out in Azerbaijan also made it possible to withstand the external challenges associated with the global economic environment.
“Special attention is paid to the development of the private sector, because the creation of optimal conditions for the expansion of SMEs opens up serious opportunities in the economy, the creation of new jobs and the growth of the employment rate of the population,” he said.
Azerbaijan is making confident steps towards development and improvement, Ahmadov noted, stressing that this fact is noted by leading global institutions and international financial organizations.
“All this is also reflected in the global reports, which confirm the success and high results achieved by Azerbaijan, both in the system of international relations and in terms of sustainable economic development, which are the result of balanced economic policy of the state,” he added.