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ADB: Azerbaijanâ€™s economy will reach $130 bln in 2020

03 December 2012 10:53 (UTC +04:00)

According to him, Azerbaijan’s economy developed quickly recently: “But, Azerbaijan must continue diversification of economy, decrease dependence on energy, repair the roads for long distances, increase the competitiveness and generally, pay attention to infrastructure”.

He noted that Azerbaijan directed to infrastructure sufficient investments: “According to our calculation, Azerbaijan’s GDP will reach $ 130 bln in 2020, investments in infrastructure will be equal to $40 bln”.

ADB official noted that Azerbaijan will not be able to reduce public spending for infrastructure projects and the private sector will have a large share. Along with this, borrowed funds, off-budget funds and mainly private sector will also play a great role in improvement of infrastructure.

Norojono also noted that, the projects financed by ADB will contribute to economic growth of Azerbaijan.