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Azerbaijani President Ilham Aliyev chairs meeting of the Cabinet of Ministers

22 October 2007 17:05 (UTC +04:00)

APA reports quoting AzerTAC State Agency that Azerbaijani President Ilham Aliyev said positive dynamics was observed in the countryâ€™s development this year and the economic reforms were successful. The head of state said that economic and industrial growth was 27% in the nine months of this year.
â€œWe worry that inflation rate is 16%. Increase of prices for food products is 15%. We are worried about it and try to minimize the inflation rate. But as you know, there are objective causes for inflation: increase of price for oil in the world, increase of prices for the products and goods imported in Azerbaijan. Inflation rate in CIS countries is very high. In some countries, food products have increased by 40-50% in the past several years. Of course, it does not mean that we accept the situation. But there are objective causes that have a negative influence on the increase of prices. On the other hand, there are subjective causes, such as monopoly, unsound competition, we try to remove them,â€ he said.
The president also noted that incomes of the population increased by 38% within the past 9 months. Real incomes of the population made up 22%. Azerbaijanâ€™s currency reserves are $6.3bn. Ilham Aliyev said these figures provide opportunities for carrying out the economic reforms resolutely.
â€œThis amount prevents influence of any unpleasant event, or economic crisis on Azerbaijan,â€ he said.

The president said that state budget expenses in 2008 will make up $10bn. and consolidated budget will be $12bn. Mentioning that the state budget was $1,5bn. in 2003, the head of state underlined that the budget increased by ten times over the recent years.

The head of the state stressing high-level of macro-economic indicators said that â€œwe do not depend on foreign finance bodies at presentâ€. The head of the state also said that resources of international finance bodies will be used afterwards, but if Azerbaijan refuses foreign credits, it will bear the loss.
â€œCapitals to be invested next year within state budget are over $ 3 billion. We can implement any industrial, economic and infrastructural projects successfully and we do it,â€ he said.
President stressed that 2008 budget will be social and investment-oriented. Average monthly salary in Azerbaijan comprises $ 230, average pension nearly $70. 294 thousand people get targeted social assistance benefit.
President stressing that development was also observed in the regions stated that entrepreneurship class were strengthened, new plants, factories were opened, infrastructural projects were implemented, power stations were constructed, water, gas pipelines were constructed.
610 thousand working places were opened in Azerbaijan within past 4 years, 430 thousand of them are permanent work places. Ilham Aliyev said that promises given in 2003 have already been asserted. 13 Olympic sport complexes have already been constructed, construction of 18 complexes continues. Cultural-historical monuments are being restored, museums, theatres are being reconstructed, restored, schools and medical centers are being renewed. Ecological program is being implemented, ecological problems are expected to be solved in Azerbaijan, as well as Absheron peninsula, water pipelines are being constructed.
President saying that expenses on the army building will be increased next year said that it will comprise nearly $1.2-1.3 billion.
â€œInsincere act of the occupation side, delay of negotiations make us to pay special attention to army issues. We will do it, no one can prevent us from this way. Azerbaijan should be ready to liberate its territories from invaders in any way,â€ he said.
President saying that military products will be produced in Azerbaijan soon stated that strong military complex will be established in the country.
The head of the state saying that GDP for per man in Azerbaijan will comprise $3.5 thousand till the end of the year said that this figure will reach $4.5 thousand. /APA/