Azerbaijan approves Action Plan for economic development in 2012
Baku, Fineko/abc.az. The Ministry of Economic Development of Azerbaijan approved the Action Plan for 2012.
The Ministry reports that the Action Plan for 2012 was endorsed at a meeting of the MED Collegiate Organ which considered the results of 2011.
At the meeting economic development minister Shahin Mustafayev gave specific orders for timely and quality implementation of the objectives of the Head of State in the coming years.
"2011, as in previous years, was successful in terms of economic development of Azerbaijan. Macroeconomic stability was maintained, diversification of the economy more expanded, the share of non-oil sector in GDP increased, successful policy of industrialization continued. Besides, in 2011 it was expanded state support of entrepreneurship, investments in the country’s economy and export of oil products grew," the minister said.
In 2012, Azerbaijans GDP is expected to amount 43.5 billion manats, with a rise of 5.7%. The oil sector will form 33.9% of GDP and the non-oil sector 57.3%. GDP per capita will be 4,743.5 manats (rise: 4.4%). Inflation is expected to be 6%.
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