Aliyev praises half-year economic growth
President Ilham Aliyev praised Azerbaijan's economic growth at a
cabinet meeting on Tuesday on the outcomes of the country's
socio-economic development in the first half-year.
Aliyev regarded the Gross Domestic Product (GDP) increase by 2.7 times in the past five years as a graphic example of Azerbaijan's economic advances. The GDP grew 16.5%, while industrial production - by about 14% in January-June 2008.
"This is a result of the purposeful and comprehensive policy of the state," President Aliyev said.
He emphasized that one of the remarkable milestones was agricultural development exceeding 10% for the first time since economic reforms began in the country. Aliyev said that at a time the food safety issue is becoming increasingly important around the world, such a high growth posted in the agriculture sector was an outcome of the extensive measures taken by the government in the field.
The president called for stepping up effort to counter inflation, which he explained by objective reasons.
Aliyev said capital investments made up 4.4 billion manats (over 5.4 billion), including internal investments worth 3.1 billion manats ($3.8 billion), in the first half-year. Considering that internal investments are rising by the year, he called for exploring opportunities to invest abroad. Aliyev also stressed the importance of heeding attention to environmental issues.
The head of state welcomed that the private sector's share in the national economy has reached 84%. He said citizens' social security has always been in the government's focus, pledging to raise the minimum wage and pensions in the country again since September. Aliyev also instructed the government to pay particular attention to social security of the population in drafting the state budget.
Aliyev said Azerbaijan has also made great accomplishments in the field of information technologies. He emphasized that the country will release two satellites into space soon.
Drawing up the results, the Azerbaijani leader pointed out the need for scaling up comprehensive programs, given the importance of ensuring security in such priority areas as energy, transport and the production sector.
Aliyev regarded the Gross Domestic Product (GDP) increase by 2.7 times in the past five years as a graphic example of Azerbaijan's economic advances. The GDP grew 16.5%, while industrial production - by about 14% in January-June 2008.
"This is a result of the purposeful and comprehensive policy of the state," President Aliyev said.
He emphasized that one of the remarkable milestones was agricultural development exceeding 10% for the first time since economic reforms began in the country. Aliyev said that at a time the food safety issue is becoming increasingly important around the world, such a high growth posted in the agriculture sector was an outcome of the extensive measures taken by the government in the field.
The president called for stepping up effort to counter inflation, which he explained by objective reasons.
Aliyev said capital investments made up 4.4 billion manats (over 5.4 billion), including internal investments worth 3.1 billion manats ($3.8 billion), in the first half-year. Considering that internal investments are rising by the year, he called for exploring opportunities to invest abroad. Aliyev also stressed the importance of heeding attention to environmental issues.
The head of state welcomed that the private sector's share in the national economy has reached 84%. He said citizens' social security has always been in the government's focus, pledging to raise the minimum wage and pensions in the country again since September. Aliyev also instructed the government to pay particular attention to social security of the population in drafting the state budget.
Aliyev said Azerbaijan has also made great accomplishments in the field of information technologies. He emphasized that the country will release two satellites into space soon.
Drawing up the results, the Azerbaijani leader pointed out the need for scaling up comprehensive programs, given the importance of ensuring security in such priority areas as energy, transport and the production sector.
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