Impact of world financial crisis on Azerbaijani economy minimzed: Azerbaijani president

President of Azerbaijan Ilham Aliyev presided over the meeting. In his opening speech, President Aliyev reminded about the serious economic problems in the most countries caused by the global financial crisis and said the crisis’ impact on Azerbaijan was minimized as a result of measures, including the reforms carried out in the country in recent years.

GDP rose 3.6% in the first half of the year and non-oil sector growth was 4.1%. “It shows that the future of the country less depends on the oil factor. The social issues was successfully adressed in the first half of the year and existent program were carried out in this field. The inflation was reduced to 3.7% in the past six months. Cash profit of the population was raised 19% and average monthly salary – 15% during this period”.

The head of state said 35,000 new job including 25, 000 permanent jobs were created in Azerbaijan in the first half of the year. The second phase of the State Program for Socio-Economic Development of the Regions were launched in this period. The government increased funds allocated for the development of the ownership. Azerbaijan fulfilled energy security tasks and increased oil and gas output.

“Azerbaijan is exporting natural gas to neighbor countries. The power stations in Sumgayit and Guba to be put on operation this year will strengthen Azerbaijan’s energy export capacity”.

The President said the programs were carried out in the transport sector in the past six months as well, which contributed to the renovation of the transport infrastructure in Azerbaijan.

/APA/