Finance

Finance

Meeting held under chairmanship of Azerbaijani President Ilham Aliyev on outcomes of socio-economic development of the Cabinet during Q1, 2012

16 April 2012 14:48 (UTC +04:00)

President Aliyev spoke about socio-economic outcomes of Q1, 2012. He said 2012 started successfully, GDP rose 0.5%, this figure was 7.7% in non-oil sector. â€œThough general industrial production dropped 0.3%, the share of industry in non-oil sector rose 16.5%. It is a record during our independence periodâ€.

â€œIndustrialization policy gives good results, macroeconomic figures are positive, the inflation makes 3.1% and population incomes grew by 14%. This yearâ€™s state budget is more than $20 bn, consolidated budget - $25 bn. Currency reserves increases in accordance with the strategic line of the country, it makes above $43 bn during Q1 of the current yearâ€, noted Aliyev.

â€œNew strategy of the SOFAZ has been specified, at present, investment and placement portfolio of the Fund is extended. Economic power of our country has increased. The State Investment Program is main development mechanism. Currently, big export potential has formed in the country and the state is interested in strengthening of this potential. This year, AZN 200 mln soft loans are planned to allocate in connection with development of entrepreneurship. 24,000 new work places has been opened during Q1, 20,000 of them are permanentâ€ added the President.

Noting that international economic rating of Azerbaijan rose, the head of the state stressed solution of social issues were in the focus of attention in the country. Touching upon the issue on repayment of USSR bank savings, Aliyev said AZN 1 bn was considered to allocate for this purpose.

â€œAzerbaijan strengthened the international positions in the first quarterâ€ head of state said and noted that, Azerbaijan started fulfilment of powers as member to UN Security Council and would chair this organization from next month. President Ilham Aliyev noted that, Azerbaijan was represented successfully in Davos Economic Forum, Munich Security Conference and Nuclear Security summit in Korea. Second session of Euronest Parliament Assembly was held in Baku.

Thereafter, Ministers of Taxes Fazil Mammadov, Health Ogtay Shiraliyev, Ecology and Natural Resources Huseyngulu Bagirov informed about the outcomes of socio-economic development in the country in 2012.

President Ilham Aliyev spoke about extension of cashless payments, strengthening of struggle against corruption, application of switching to e-service in the state bodies in a short-run and gave tasks. He also noted that, number of agro service companies had to be increased, solution of ecological issues had to be paid attention and etc. Besides, the works on providence of energy safety must be extended, reconstruction works must continue, establishment of Diaspora must be strengthened and etc.