MED: The diversification of the economy of Azerbaijan is accelerated without problems

Azerbaijan's economy has shown resistance to negative external influences and economic growth achieved by all indicators. This was said at the government meeting chaired by President Ilham Aliyev on January 15 by the Minister of Economic Development (MED) Shahin Mustafayev.

According to him, in 2012, the government managed to maintain macroeconomic stability, accelerate the development of diversification of the economy, regions, and the non-oil sector. The Minister said that the country has created a favorable climate for investment and free competition in the private sector.

Due to growth at 9.7% the share of non-oil sector in GDP in 2012 reached 52.7%.

Strategic currency reserves of $ 46 billion, which is 10 times the national debt.

Investment in the economy was $ 22.1 billion, including $ 8.8 billion from foreign sources. According to the minister, in 2012, was commissioned in about 100 industrial facilities. Among them, there is a plant for incineration and sorting of household waste. Ninety companies are under construction. Growth of non-oil industry for the year was 7.8%.

Ongoing is organizational work on creation of industrial and technological parks. Large-scale projects for the reconstruction of water supply and sewerage network of irrigation, road infrastructure, etc. Mustafayev said in 2012 in the regions of the country was put into operation 410 different objects.

At the initiative of the state in the two areas (Agjabedi and Beylagan) there were created large grain farms. Work is underway to establish such farms in Shamakhi, Jalilabad, Hajigabul and Beylagan regions.

The Minister of Economic Development does not have any available in the national economy a negative thing, not mentioned the problems faced by citizens and businesses. - 08D-


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