POLITICS


President Ilham Aliyev: No other country has developed as speedily as Azerbaijan over the past 14 years

Baku, November 14, AZERTAC

“No other country has developed as speedily as Azerbaijan over the past 14 years from the point of view of economic reforms," said President Ilham Aliyev at a solemn event marking the 25th anniversary of the establishment of the New Azerbaijan Party.

"The economy has grown more than three times and poverty has been reduced from 50 to 5 per cent. The foreign debt is equal to 20 per cent of the GDP. Our foreign exchange reserves total to 100 per cent of the GDP.”

President Ilham Aliyev emphasized that international economic organizations highly appreciate Azerbaijan’s successes. The head of state said that Azerbaijan ranked 35th in the latest economic competitiveness report of the Davos Forum.

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