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World Bank: â€œAzerbaijan has entered into the ranks of middle-income countriesâ€

20 June 2014 14:52 (UTC +04:00)

Press service of the ANAS told APA that the report of the World Bank on Azerbaijan was read.

Prasad said that within the framework of the project which covers all the European and Central Asian countries, the countries rich and non-rich in the natural resources were analyzed. As a result of the analysis, the possibilities of a country to become a high-income country from a middle-income country were defined.

Prasad presented the results of the analysis conducted by the World Bank on possibilities of Azerbaijan to become a high-income country from a middle-income country. The speaker stressed that oil revenues have dominated the economy of Azerbaijan over the past 10 years and Azerbaijan has entered into the ranks of the middle-income countries due to the contribution of oil production to the country's gross domestic product.

Saying that the Development Concept "Azerbaijan 2020: A look into the future" signed by President Ilham Aliyev is of great importance for the development of human capital, Prasad said that in this regard special attention was paid on the provision of the people with qualitative health and education services, availability of these services for various social groups, low-income and poor families.

Prasad touched on a number of important problems of the country as well.