Baku – APA. The decline in oil prices and manat’s devaluation affected the economic processes in Azerbaijan in 2015, Azerbaijani President Ilham Aliyev said Jan.10.
He made the remarks at the meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in 2015 and objectives for the future.
The president said political factors are behind the sharp decline in oil prices.
“Therefore Azerbaijan’s economy developed, GDP grew by more than one percent and industrial production – by over 2.4 percent,” said Aliyev.
The non-oil industry increased by 8.4 percent which means the development of the non-oil sector as a result of the reforms carried out in recent years, he noted, regarding the growth in the non-oil sector as the country’s basic index.
President Aliyev went on to add that last year the investment in Azerbaijan’s economy accounted to $20 billion.
“Azerbaijan is represented by its potential as an attractive country for foreign investors. The rest of the economic indicators are also showing a positive trend. That is, to achieve economic development in 2015, taking into account all the geopolitical and economic factors, is in itself a great achievement,” he stressed.
The head of state noted that in Azerbaijan all social programs, including infrastructure projects are being implemented and new jobs are being created, and measures are underway for the development of the country’s regions. “
President Aliyev also underlined the importance of the Trans-Anatolian (TANAP) gas pipeline project.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
