No other country developed as rapidly as Azerbaijan in terms of economic reforms in past 14 years. The economy tripled, poverty level reduced from 50% to below 5%. Currency reserves are equal to 100 percent of Gross Domestic Product, President of Azerbaijan Ilham Aliyev said at a solemn ceremony marking the 25th anniversary of the founding of the ruling New Azerbaijan Party, APA reported.
He noted that Azerbaijan is also highly appreciated by international economic organizations: “Azerbaijan ranks 35th according to the Davos World Economic Forum's global competitiveness report. This means that our economic policy if perfect. This is reflected in development of the country, improvement of welfare of the people. Regarding works done in energy and transport fields, I can say that a number of innovations occurred. In a word, Azerbaijan achieved successes in any fields. These successes were grounded in November 1992. As a result of establishment of the New Azerbaijan Party, Azerbaijan managed to preserve its independence. Today, Azerbaijan has become a self-confident, secular country which relies on its domestic recourses”.