Azerbaijan ‘only CIS state unaffected by recession’
MOSCOW - Azerbaijan is the only country in the CIS whose economy was not affected by the recession during the global financial crisis, CIS Executive Secretary Sergei Lebedev has said in an interview with Rossiyskaya Gazeta.
"The crisis affected all countries, no doubt, especially those depending on foreign economic and financial institutions. These are Kazakhstan, Russia, Ukraine, Moldova and Armenia. The crisis also hit Kyrgyzstan and Tajikistan strongly. Azerbaijan is the only CIS country that was not affected by the recession," Lebedev said.
He added that even the GDP growth remained strong in Azerbaijan.
"Azerbaijan, Kazakhstan and Russia are presently showing dynamic development. Turkmenistan has made a strong leap, and Uzbekistan also overcame the crisis rather well," Lebedev said.
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