Finance

Finance

Azerbaijan president presides over a government meeting on 2008 performance

16 January 2009 16:16 (UTC +04:00)

The head of state said 2008 was successful for Azerbaijan despite the global financial crisis.
Last year, personal incomes increased by 36%, the minimum wage and pensions rose by 50% over the past year.
The President said that the average monthly wage is 335 dollars, and the pension is $120 currently in Azerbaijan.
According to Ilham Aliyev, 766 000 new jobs, including 548 000 permanent jobs were creatd in the country over the past 5 years. Besides, 120 000 jobs were created in 2008 alone.
According to him, the 2009 state budgetâ€™s expenditure estimate was approved at 15.4 billion dollars and the consolidated budget was predicted to be 18.4 billion dollars despite the global crisis.
â€œThe success of our country’s energy sector has strengthened our position. Azerbaijan now has 7 of pipelines for oil and gas export to world markets,â€ he added.
The head of the state reported an increase in the country’s defense spending to 2.3 billion dollars.
Speaking of strengthening Azerbaijanâ€™s position in resolving the Nagorno-Karabakh conflict, Ilham Aliyev described the UN General Assembly resolution supporting the position of Azerbaijan as a political and diplomatic success and the Moscow Declaration as a follow-up.
Finance Minister Samir Sharifov, Minister of Economic Development Shahin Mustafayev, Chairman of the National Bank Elman Rustamov made reports.
At the end, Ilham Aliyev noted that Azerbaijanâ€™s gas resources reach 2 trillion cubic meters.
He recalled that the level of domestic natural gas provision reached 85%.
According to him, in case of signing a transit agreement in 2009, Azerbaijan will supply gas to Greece and Bulgaria.
The President gave instructions to the Government on adopting measures for the development of the banking and social sectors.