Ogtay Asadov: Budget envelopes of 2020 reflect positive changes in Azerbaijan


November 12, Fineko/abc.az. Important structural reforms are underway in Azerbaijan today. In World Bank’s last report Azerbaijan is among the 20 most reforming countries in the world. Consistent reforms in Azerbaijan have further strengthened the economic potential.

The statement was made by Milli Majlis chairman Ogtay Asadov, speaking today at the plenary session of the parliament.

"The budget envelopes of 2020 reflect positive changes in the country. Over the first 9 months of 2019 GDP grew by 2.5% and the non-oil industry grew rapidly. As it was noted at the October 15 economic meeting, the ongoing work in the non-oil sector has caused growth in this area.

Azerbaijan's strategic foreign exchange reserves exceeded $48 bn. For Jan-Sept of this year incomes increased by 8.9%, inflation made up 2.6% that further improved the welfare of the population," Milli Majlis chairman underlined.