Azerbaijan's economy strengthens

Some $21.7 billion was invested in the Azerbaijani economy from all sources, including $15.7 billion in the non-oil sector in 2011, chairman of the Azerbaijani Parliament Oktay Asadov said at the plenary session of Parliament to discuss the government's report on the results of 2011 on Friday. The report was presented by Prime Minister Artur Rasizade.

"Seventy-two per cent of the total investment accounts for the non-oil sector," Asadov said. He noted that more than 80 per cent of the South Caucasus GDP accounts for the economy of Azerbaijan.

"GDP per capita exceeded $7 million in 2011," Asadov said. He added that Azerbaijan has maintained stability of its economy and a macroeconomic balance against the background of the crisis in world markets in 2011.

"International financial institutions and rating agencies also noted it," Asadov said.


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