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Azerbaijani president sums up economic results of 2013

January 09, 2014, 22:43 UTC+3 BAKU
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BAKU, January 09, 22:37 /ITAR-TASS/. Investments in Azerbaijan’s economy in 2013 reached 28 billion U.S. dollars, Azerbaijani President Ilham Aliyev said at a government meeting on Thursday.

He noted that the country’s strategic currency reserves in 2013 for the first time exceeded 50 billion U.S. dollars, or 70 percent of the GDP. The Gross Domestic Product grew by six percent. The growth in the oil sector was 9.8 percent. Monetary incomes of the population went up by eight percent, inflation was 2.4 percent.

In 2013, as many as 110,000 new jobs were created in the country, and unemployment went down to five percent. The poverty rate was 5.3 percent. Azerbaijan’s foreign debt was eight percent of the GDP, which “is one of the best indices in the world,” Aliyev noted.

Among the tasks for 2014, the president cited efforts to maintain macroeconomic stability and low inflation rates, to expand the state investment programme, and to continue the programme of support to businesses.

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