Aliyev: Azerbaijan world’s fastest-growing economy
President Ilham Aliyev has said Azerbaijan has been the
fastest-growing economy in the world in the past years, which is
clearly seen from economic figures, citing extensive improvements
being made in the country.
President Aliyev told a meeting on environmental issues on Thursday that the national economy has grown about three-fold over six years.
"This is growth unmatched in the world. Our economy grew 9.3% even in 2009, which was a challenging year for the whole world. The increase in the Gross Domestic Product (GDP) shows that the Azerbaijani economy is sustainable, multi-faceted and successful."
The president emphasized that investment is being made in Azerbaijan both internally and from abroad. In the past few years alone, domestic investments have exceeded foreign ones.
"This shows that the Azerbaijani state and companies are now taking strides toward making hefty investments in their country," President Aliyev said.
Aliyev noted that Azerbaijan will maintain its favorable investment climate in the future.
"In 2009 both international financial institutions and commercial banks operating throughout the world were amid financial constraints to a certain extent. Nonetheless, the loans allocated to Azerbaijan and their amount are increasing. Foreign companies took important steps toward channeling considerable investments into the Azerbaijani economy even in 2009. Last year we participated at the opening of industrial facilities bearing tremendous importance for diversifying the country’s economy, and, at the same time, the cornerstone of very important enterprises was laid."
The president noted that the government was working on a substantial program aiming to resolve all problems facing the fast-growing South Caucasus republic.
"This program is multi-faceted. Its main objective is to strengthen and diversify the Azerbaijani economy, resolve all of Azerbaijan’s problems, take key steps to solve people’s social problems, and thus strengthen our country’s independence, economic freedom and economic independence."*
President Aliyev told a meeting on environmental issues on Thursday that the national economy has grown about three-fold over six years.
"This is growth unmatched in the world. Our economy grew 9.3% even in 2009, which was a challenging year for the whole world. The increase in the Gross Domestic Product (GDP) shows that the Azerbaijani economy is sustainable, multi-faceted and successful."
The president emphasized that investment is being made in Azerbaijan both internally and from abroad. In the past few years alone, domestic investments have exceeded foreign ones.
"This shows that the Azerbaijani state and companies are now taking strides toward making hefty investments in their country," President Aliyev said.
Aliyev noted that Azerbaijan will maintain its favorable investment climate in the future.
"In 2009 both international financial institutions and commercial banks operating throughout the world were amid financial constraints to a certain extent. Nonetheless, the loans allocated to Azerbaijan and their amount are increasing. Foreign companies took important steps toward channeling considerable investments into the Azerbaijani economy even in 2009. Last year we participated at the opening of industrial facilities bearing tremendous importance for diversifying the country’s economy, and, at the same time, the cornerstone of very important enterprises was laid."
The president noted that the government was working on a substantial program aiming to resolve all problems facing the fast-growing South Caucasus republic.
"This program is multi-faceted. Its main objective is to strengthen and diversify the Azerbaijani economy, resolve all of Azerbaijan’s problems, take key steps to solve people’s social problems, and thus strengthen our country’s independence, economic freedom and economic independence."*
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