Report Heard on Activities of Government in 2012

At the plenary session of the Parliament heard the report of the Government. Speaking with Prime Minister Artur Rasizade said that last year, living standards increased, macroeconomic stability maintained, and energy and food security was ensured.

The Prime Minister said the acceleration of the development of the oil sector (+9.7%), GDP growth of 2.2%.

According to him, last year there was invested in the economy 25.8 billion manat with a specific gravity of the oil sector to 71%. Revenues of the consolidated budget were 20.1 billion manat, and strategic currency reserves - $ 46 billion.

Inflation rate (1.1%) and the fact that the depositors of the former USSR Savings Bank paid to January 1, 2012 550 million manat - evidence of social orientation of the economy - said Rasi-zade. In addition, the average monthly salary rose by 8.7%, and the average level of all types of pensions is 152 manats.

Speaking of financial stability, he noted the growth of credit investments of 20.8%.

On all types of loans entrepreneurs for the year have been allocated 212 million manat of concession loans. - 17D-