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Azerbaijani populationâ€™s incomes to rise 6.6% during years coming

13 November 2012 14:33 (UTC +04:00)

Baku. Ali Ahmedov – APA-Economics. Increase of the population’s incomes by 6.6% in 2013-2016, at the same time, investments in main capital and export GDP demand components will contribute economic growth positively, said the Minister of Economic Development Shahin Mustafayev.

According to him, the forecasts on positive economic growth rate, manageable level of inflation, stability of exchange rate of manat, conservative approach to foreign borrowing, minimum level of budget deficit and its ratio to GDP, significant positive balance expected in balance of payment, volume and dynamic of strategic currency stocks, people’s quality of life indicate that macro economic stability will continue.

“Economic growth in Azerbaijan is expected to be 5.3%, in next three years annual economic growth will be 5.3%. Non-oil sector will rise 11.7%, during the next three years – 7%. Consequently, share of non-oil sector in GDP will soar to 70.6% from 47.6%. Oil sector will decrease to 29.4% from 52.4%”.