Azernews.Az

President Ilham Aliyev has said Azerbaijan has completed its transition into a liberal, sustainable and self-sufficient economy relying on its own resources.
"As of the end of 2009, Azerbaijan was among the most rapidly developing countries in the world," President Aliyev told a cabinet meeting on last year’s socio-economic development on Monday.
The president noted that in 2009, the country’s Gross Domestic Product (GDP) increased 9.3%, describing this as a "historical accomplishment".
Aliyev said industrial production grew 8.6%, while the agricultural sector saw a 3.5% increase.
President Aliyev pointed out that investments to the tune of $9.2 billion were made in Azerbaijan in 2009, with domestic investments accounting for $7.3bn of the amount. The country’s currency reserves reached $20.4bn.
The head of state said substantial social and economic reforms had paved the way for Azerbaijan’s comprehensive development. 74,000 jobs were created in Azerbaijan, while the poverty level decreased to 11%. Inflation made up 1.5%.
The president also said Azerbaijan has managed to withstand the global financial crisis with "minimal losses".
Aliyev added that the implementation of social programs and infrastructure projects will be continued in 2010.*