President Ilham Aliyev: Azerbaijan`s economy has more than tripled for last 15 years

18:18 - 26.04.2019


April 26, Fineko/abc.az. Delivering speech at the 2nd international cooperation forum "One belt – One Road" in Beijing, President Ilham Aliyev supported initiative "One Belt – One Road" and said that the project will serve to strengthen ties between different countries, strengthen dialogue and cooperation and create new opportunities for international trade.

In his speech President Aliyev underlined that the economy of Azerbaijan has more than tripled over the past 15 years. He added that investments in the amount of $260 bn “helped us modernize our country and create modern infrastructure. Azerbaijan has a very low foreign debt. That is about 19% of our GDP. Our reserves are 5-fold higher than our foreign debt”.

Azerbaijan’s current economic indicators are on the rise. GDP has increased by 3%, inflation makes up 2.1%, and economic diversification is one of the main goals of the country.

Stressing that Azerbaijan has the largest Navy in the Caspian Sea, consisting of 260 vessels, the head of state stressed that last year a new international Baku seaport with capacity of 15 million tons of cargo and cargo handling capacity of 100,000 containers of cargo was commissioned. The capacity of the seaport is going to increase up to 25 million tons and 1 million containers in the future.

 

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