Strategic Research Center : surplus of Azerbaijans payment balance rose 90-fold
Baku, Fineko/abc.az. SRAs (Strategic Research Center) Expert Group on the issues of Economy globalization and analysis under the President of Azerbaijan has prepared a report " Socio-economic development of Azerbaijan in 2003-11".
SRA reports that the report analyses socio-economic reforms and positive results for economy. The report consists of 6 parts: real, fiscal, monetary sectors, payment balance, the governments anti-crisis measures and social unit.
Real sector reflects the governments success in industry, agriculture, transport, ICT and construction area. Fiscal sector consists of two parts – state budget and State Oil Fund (SOFAZ).
The report also shows Azerbaijans success reflected in international reports. The World Economic Forums Global Competitivness Report 2010-2011 places the counrty on 57th position on the index of global competitiveness and 13th position on macroeconomic stabiliity outpacing all CIS countries. The World Banks Doing Business-2011 report on rating of favorable conditions for entrepreneurship activity Azerbaijan is the 54th among 183 countries. In Human Development Index 2011 report Azerbaijan could rise from 101th to 67th place on the level of live during 2005-11.
In 2003-11 the countrys GDP in real indication rose 3 fold, including 2 fold rise in non-oil sector, 9.3 fold rise in state budget revenues, 2.9 fold rise in major capital revenues, 5.4 fold rise in foreign trade turnover and 19fold rise in the countrys strategic currency reserves. In 2010 the volume of surplus of current deals increased 90 fold compared to 2005.
On the whole the report indicates multifold rise of Azerbaijans economy in the last 8 years due to Azerbaijani President Ilham Aliyevs successful policy.
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