11:16 - 31.01.2022

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January 31, Fineko/abc.az. In recent decades, Azerbaijan's economy has more than tripled. Azerbaijan is in the group of countries with above-average incomes.

ABC.AZ reports that Azerbaijani President Ilham Aliyev stated about this in program “Formula of Power” broadcast by TV channel Rossiya 24 on 30 January.

The head of state emphasized that there is a steady demographic growth in the country.

 “Oil production is increasing. Today, Azerbaijan is one of the leaders in energy security in the world. On 14 September 2017, a new agreement was signed in Baku on the joint development of the Azeri, Chirag and Gunashli fields. More than $36 billion has been invested in this project. 500 million tons of oil has been produced. On 29 May 2018 the Trans-Anatolian Gas Pipeline (TANAP), an important part of the Southern Gas Corridor, was officially inaugurated. Azerbaijan has proven gas reserves of 2.6 trillion cubic meters and projected reserves of about 3 trillion cubic meters,” the president said.