Session of the Cabinet of Ministers about results of the socio-economic development of Azerbaijan during 6 months, 2013

The session of the Cabinet of Ministers under chairmanship of President Ilham Aliyev took place on July 18. The session was devoted to socio-economic development of the country during 6 months, 2013.

During 6 months GDP increased by 5%,  while non-sector by almost 11%. “We have achieved our goal to double the non-oil sector during the coming 10 years,” President said.

During 6 months 2013 $12.5 billion has been invested, of which $7 billion were local investments. It was admitted for the first time that local investments come mainly from the state budget. Aliyev believes that the fact that foreign investments into the local economy totaled $5 billion shows attractiveness of the country and trust of foreign citizens, but the sources are not disclosed. He expressed hope that by the end of the year investments will reach almost $25 billion.

The strategic currency resources of the country exceed $48 billion and despite implementation of very big investment projects, the resources grow year after year.

At present average salary in Azerbaijan is $520, average pension - $200. In quarter 3 the pension and salaries will be increased, president promised the population on the eve of elections.

The macro-economic situation is stable, almost all the world countries have adopted an economic model of development of Azerbaijan, inflation rate constituted only 2% and incomes of the population increased by 7%. The growth in agriculture constituted 5%, Aliyev said.

During 6 months 2013, 55,000 new permanent jobs were created in the regions as a part of the regional development program. 1,180,000 new jobs were created during 10 years of Ilham Aliyev’s presidency. President assured that unemployment was also almost reduced to nothing – in early this year unemployment was slightly over 5% and by the end of the year the figure will be even lower. But in some developed countries this showing is between 10 and 25%. President also mentioned that about 30% of Azerbaijani population was forced to look for jobs in CIS member-states, Turkey, Far and Near East and  deal with the migration services of the neighboring countries.

Azerbaijani President stressed importance of the trans-Adriatic pipeline (TAP) route, which is as important as the Silk Road, Baku-Tbilisi-Ceyhan (BTC) oil pipeline and Baku-Tbilisi-Erzurum (BTE) has pipeline.

President believes that the official data about purchase of weapons in Israel to the amount of $1.6 billion and in Russia to the amount of $1 billion has been understated. “In fact our military and technical cooperation cannot be measures by figures. We can disclose all information, because our state budget is transparent and our expenses are open,” President bragged.

“Azerbaijan is a strong country. Our strength will keep on growing. We need to work harder to make the country stronger,” concluded Ilham Aliyev.—0-