Azerbaijan demonstrates highest growth rate among oil-producing countries

The fifth Caspian Oil and Gas Trading and Transport Conference evince that as an independent state Azerbaijan pursues a successful policy in all spheres of influence, said Head of Parliamentary Economic Policy Committee Ziyad Samadzade on Monday.

He said that it is believed that there is no sustainable economic growth in oil-producing countries.

"Azerbaijan's experience disproves this theory," Samadzade said.

He said Azerbaijan has been demonstrating steady economic growth over the past ten years.

"Over the past seven years, Azerbaijan's GDP has tripled. This is the highest rate among all oil-producing countries," Samadzade said.

He said that today GDP per capital in Azerbaijan hits $6,000. The country's foreign debts constitute only six percent of GDP.

"We didn’t face any problem with debts during the global financial crisis. Azerbaijan’s independent policy, integration and efficient state regulation of the economy are the main factors ensuring dynamic growth in the country," Samadzade said.


/Trend/