Azerbaijan’s head: economic reforms to continue in Azerbaijan


February 8, Fineko/abc.az. Azerbaijani President Ilham Aliyev delivered speech at the Congress of ruling party Yeni Azerbaijan Partiyasi.

The head of state has claimed that economic reforms in Azerbaijan will be continued.

"Diversification of the economy, application of international best practices in Azerbaijan, application of advanced technologies in financial and fiscal policy will be the main factors of development and this policy has been already yielding results," the country’s leader said.

He said that in 2017 the non-oil sector of the economy grew by 2.7%, the non-oil industry by 3.7%, agriculture by 4.1%, foreign exchange reserves were brought up to $4.5 bn. In January 2018 country's GDP increased by 2%, the non-oil economy by about 4%, industrial production by 1.5%, non-oil industrial production by 8.7%. Inflation in January made up 5.5%, while population’s income grew by 11%. Foreign exchange reserves rose by $2 bn up to $44 bn.

"I’m sure growth will be ensured in 2018 that will be an impetus for development in the coming years," the head of state said.