President Ilham Aliyev: "Income of the population increased by about 20%"

Ilham Aliyev, the President of the Republic of Azerbaijan

© APA | Ilham Aliyev, the President of the Republic of Azerbaijan

# 15 July 2022 20:59 (UTC +04:00)

"As for economic growth, of course, we divide it into two parts every time - There are good results in the direction of economic and non-oil economic growth. The economy grew by 6.2 percent, the non-oil economy by 9.6 percent, the total industrial production in the industrial sector by 2.1 percent, and the non-oil industry by 11.5 percent, “said President Ilham Aliyev as he made a speech at a meeting dedicated to the results of the first six months of this year, APA reports.

The President said that these are very good results and we see these results in real life.

"Because this allows us to increase salaries and pensions. The income of the population increased by about 20 percent. True, inflation eats up part of this growth, as they say.
Inflation is just over 12 percent. But this is a general trend in the world. Even in countries where inflation is maybe 0-0.5, 1 percent, now inflation is approaching double-digit inflation. That is, this is a general trend and we are part of the world economy.

I must also say that now there are very high chances that the world economy will go into recession. In other words, reputable international institutions and financial institutions are already talking about the recession as an inevitable fact. We should be ready for it. Economic development in Azerbaijan, solving social issues, building an army, reconstruction of Karabakh, huge infrastructure projects, transport, energy projects, stability, peace - everyone accepts this as a real fact, as they say, and this is very good. I am very glad that everyone sees it that way and should accept it that way. But what should be done to ensure this? Some do not see this or do not want to see it. We live on our own account. No one helps us, never has and never will. That's why we build our own life. We don't interfere in anyone's business, but at the same time, we don't let anyone interfere in our business. Economic independence, I say again, is the cornerstone of political independence," the head of state said.

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