“GNP per capita to reach $5,000 in Azerbaijan in 2010,� National Bank says
Elman Rustamov told the meeting attended by representatives from bank and insurance organizations that Azerbaijan is a pilot in the world for its economic growth.
“Gross National Product went up 35%, oil sector grew 60% and non-oil sector advanced 12% in Azerbaijan during 2006. We foresee the GNP per capita will double to $5,000 in 2010,� he noted.
He added that non-oil sector growth was 11% in three years and foreign trade balance of a country is an important performance indicator.
“70% of the investment made in oil sector on outflow now. Repatriation of all the investments will be complete by mid 2009. Azerbaijan’s share in profit oil will go up to 80%,� he underscored.
Mr. Rustamov also noted that national currency strengthened by 5.1% last year and the amount of long-term loans doubled.
“Our banking sector enjoyed dynamic development and performance indicators tripled within three years,� he said.
At the end of the meeting, Rustamov was chosen an honorary member of the club. /APA/
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