Bank Of Baku

This year real economic growth to surpass the forecasted 29.7%, Heydar Babayev says

This year real economic growth to surpass the forecasted 29.7%, Heydar Babayev says
# 27 February 2007 16:08 (UTC +04:00)
The share of the private sector in gross domestic product generation has reached 81% and the number of legal entities engaged in entrepreneurship exceeded 73,000 in Azerbaijan, Economic Development Minister Heydar Babayev told a press conference, APA reports.
74.3% of these legal entities established small enterprises and over 4,000 foreign investment-based companies were registered in the country.
The number of individual bodies engaged in entrepreneurship climbed 13.5%, year-over-year, to 237,000.
Babayev also underscored great achievements in improvement of investment climate and attraction of investment influx into the non-oil sector during 2006, saying capital investments jumped 14.8%.
A total of $36.7bn were invested in the economy during the period of 1995-2006, of which $25.7bn (more than 70%) were foreign investments.
The minister insisted that real economic growth will surpass the forecasted 29.7% in 2007. /APA/
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