All-republican science-theoretical conference “From elections to elections - economy of Azerbaijan: realities and perspectives” was held in the Azerbaijan state economic university on October 10.

Scientists of the National Academy of Sciences, Milli Majlis members, professors and tutors, students of the State Economic University participated in the conference.

Opening the conference by introductory word, rector of the university, Academician Ali Abbasov said, people of Azerbaijan are on the eve of the elections, some Presidential nominees have announced their platforms, Scientists and economists have deeply analyzed these platforms and consider necessary to inform people about received information. According to scientific research, expressions of the oppositional leaders on socio-economic development are groundless promises, having no reason. We see the reality analyzing socio-economic achievements of the country for recent ten years. Public and political stability in the country as a result of efforts of the President of Azerbaijan Heydar Aliyev created favorable conditions for local and foreign business people, solved the problem of investment inflow, necessary for development of Azerbaijan’s economy. Due to the “contract of the century” and other oil agreements, the inflow of foreign investments to Azerbaijan is increasing.

At the moment, the amount of foreign investments per capita in the country exceeds $211. This is the highest data among the CIS countries. In 2002, growth of total investments in Azerbaijan came to 182 percent as compared to the previous year. Azerbaijan has the highest data on investment growth, recently directed to main capital. Whereas in other CIS countries this data comes to 12-61 percent, in Azerbaijan it is fixed at the level of 251 percent.

The rector reminded that between 1996 and 2002, all macroeconomic data increased 2-3 times, the amount of currency resources reached $1 billion 400 million. For recent 10 years, production of GDP increased 18.3 times and per capita 0 16.6 times. According to this data, Azerbaijan is taking one of the leading placed among the CIS countries. At the same time, everything was achieved under the conditions when 20 percent of lands of the country are under occupation and are out of circulation, over one million of refugees and internally displaces people are not involved into production…

It speaks for the fact that development of economy of Azerbaijan is connected with aimed policy of Heydar Aliyev and continuation of this policy is a necessity for Azerbaijan.

Further, the reports of Academician Asaf Nadiorv “Balance and dynamic development of economy of Azerbaijan”, Academician Ziyad Samedzadeh “Providing economic security - historical achievement of independent Azerbaijan” and correspondent-member of the National Academy of Sciences Shakhbaz Muradov “problems of demography and policy of employment of Azerbaijan” were made at the forum.

Well-known economists gave concrete numbers and examples. It was pointed out that despite of unfavorable climate conditions, 2 million 165 thousand tons of grains have been collected this year. Some say, that poverty level in the country is fixed at the level of 49 percent in the country, but they do not take into account that 13 percent of them are refugees and IDPs. The state poverty reduction program and economic development has been worked out under the leadership of President Heydar Aliyev realization of which will cost $3 billion.

According to this program, by the year of 2005, poverty level will be decreased down to 20 percent. Some were saying that there is no statistical registration of output produced in the country. However, they do not take into account the fact that not the completely rural production is being freely realized in regions and villages.

The projects for solution of unemployment problem in the country were worked out. There were prepared new programs on attraction of foreign investments, small and medium business. Some 6000 jobs are expected to be opened within upcoming 5 years.

The speakers pointed out that at the expense of revenue coming after putting into operation of the oil pipeline Baku-Tbilisi-Ceyhan in 2005, non-oil sector of the country would start developing speedy. Side by side with East-West, transport corridor, which could render influence on development of economy of the country, the North-South corridor start operating.

Serious reforms are carried out in banking system of Azerbaijan and credit system has improved. The European Bank for Reconstruction and Development has allocated micro credits for $5 million. The report of the bank pays a special attention to Azerbaijan and this document reads that the country has no problems with paying back the loans.

Everything eyewitnesses that due to farseeing policy of the President, a good foundation for our economy has been laid and now we are facing the task of its further strengthening. It is possible only on condition of providing succession of the political course of Heydar Aliyev.

The participants of the conference passed an address to people of Azerbaijan.