Azerbaijani President: At least $14.6 bn to be invested in country’s economy in 2018


January 30, Fineko/abc.az. President Ilham Aliyev made speech at yesterday’s conference dedicated to the results of the 4th year of the State Program on Socio-Economic Development of Regions for 2014-2018.

The head of state stated that Azerbaijan’s economic indicators for the past 14 years demonstrate successful dynamics of the general development.

"Over the last 14 years the domestic economy has grown by 3.2 times and this is a record figure in the world. Our non-oil economy increased by 2.8 times hat testifies that economic growth is associated not only with oil & gas extraction. Azerbaijan’s economic growth is diversified and therefore, such growth of the non-oil sector is a result of reforms. Growth of 2.6 times has been achieved in the industrial sector, 1.7 times in agriculture and 4.1 times in the nonoil export,” President Aliyev said.

He pointed out that in 2004 foreign exchange reserves totaled $1.8 bn and today’s foreign exchange reserves reach $42 bn. So for the past 14 years, it was ensured growth of foreign exchange reserves by 23 times. In addition, Azerbaijan is holding one of the world’s leading places on their volume per capita.

"Over the last 14 years country's economy has been invested $231 bn, and half of those investments are foreign ones.  Besides, Azerbaijan is among leading countries in the world on investments per capita. 93% of investments made in Azerbaijan in the period of country’s independence account for the last 14 years. Last year’s investments reached $14.6 bn.  And it is expected that this year investment will be made for at least the same amount," President Aliyev stressed.