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The Cabinet of Ministers holds meeting on outcomes of first quarter of 2010 presided by President of Azerbaijan

14 April 2010 15:05 (UTC +04:00)

The resident said GDP rose 9.3% in 209 and for 2.8 times in 2004-2009 and valued it as a logic result of perfect political, economic and social reforms

The Head of State said the Azerbaijanâ€™s economy was successfully developed in 2010, GDP rose 5.4% in first three months, industrial production â€“ 5.6%, non-oil sectorâ€™s growth â€“ 2.8% and agriculture â€“ 1.5%. The inflation rate was 3.8%.

The citizensâ€™ bank deposits increased 30% and strategic monetary resources of Azerbaijan reached 22.3 billion dollars. The state investment program and enhancing the countryâ€™s industrial potential was successfully implemented and there was no problem in the implementation social programs and projects. The Head of State said ship-building plant was founded in Azerbaijan this year and two new defense industry enterprises started to work and called other newly-opened facilities as a great success. President Aliyev said despite financial and economic crisis in the world, Azerbaijan reached rapid development due to diversification of economy and sustainability against concurrency.

The Head of State said it was great success that the World Economic Forum called Azerbaijan a leading country among CIS countries for the development of information and communication technologies.

President Ilham Aliyev said the state would continue to pay special attention to the solution of social issues, salaries and pensions would be increased, projects on drinking water, sewage and other spheres would be implemented in the regions.

Minister of Taxes Fazil Mammadov, Minister of Labor and Social Protection of Population Fuzuli Alakbarov, chairman of the State Customs Committee Aydin Aliyev, Director General of the State Committee on Standardization, Metrology and Patents Ramiz Hasanov spoke about the work done within the three months of the current year and the tasks lying ahead.

Finalizing the meeting President Ilham Aliyev gave instructions for strengthening macroeconomic stability and improving social welfare of the population. He underlined the importance of making stricter the measures to strengthen the control over the sale of low-quality products. The head of state noted the necessity of extending the projects on infrastructure, ecology and other spheres. President gave instructions to prepare complex proposals for clearing Baku bay.

According to President, the State Flag Square will be opened this year. Noting that Azerbaijanâ€™s oil strategy was being implemented successfully, the head of state underlined that in connection with the extension of the countryâ€™s export potential, measures continued on new export routes of the natural gas and the republic fully supported all the projects within the framework of the South Corridor.

President said the capacity of Azerbaijanâ€™s gas holders would be increased by 3 billion cu m this year. He considers that it is the most proper variant that the talks on the sale of natural gas between Azerbaijan and Turkey are based on mutual interests and international practice.

Noting that the country has real opportunities to increase the volume of the natural gas sold to Russia, the head of state said talks continued with Iran in this field. President Ilham Aliyev gave instructions concerning the tasks lying ahead.