TODAY.AZ / Business

Non-oil sector of Azeri economy grows 20%

12 February 2005 [13:03] - TODAY.AZ
In 2004 the non-oil sector of Azerbaijani economy grew 20%, Farhad Aliyev, the Minister for Economic Development, told a meeting of Azerbaijani President Ilham Aliyev with entrepreneurs.
"The development of the non-oil sector exceeded the growth pace of the oil sector," Aliyev stressed.

The Minister also noted the development of the private sector. "Over 50% of tax payments fell on the private sector. The share of private sector grew 80% in the amount of customs remittances," he underscored.

According to Aliyev, the 2005 public budget assignments for the development of the private sector comprises 200bn manats, whereas in 2004 made up 100bn manats. "The sum was doubled at the President's instruction and we expect the results to equal a doubled sum," Aliyev stressed.

In 2004 over 10,000 new jobs opened at the expense of grace credits and 8 labor fairs on placement of credits were organized.

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