ECONOMY
Results achieved in January of this year show that non-oil sector is the main developing area of Azerbaijan’s economy, President
Baku, February 16, AZERTAC
“The results of January 2018 demonstrate that the main developing area of Azerbaijan’s economy is the non-oil sector. Our economy grew by 4 per cent. Our economic growth for January in the non-energy sector of the industry is 8.7 percent,” said President Ilham Aliyev as he addressed the 4th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council held at the Heydar Aliyev Center in Baku.
President Ilham Aliyev mentioned that the currency reserves of Azerbaijan are equal to the country’s gross domestic product.
“The best indicator of economic diversification is the assessment of the Davos World Economic Forum. The recent evaluation shows that Azerbaijan is in 35th place in the world in terms of economic competitiveness. According to the index of inclusive development among developing countries, Azerbaijan occupies the 3rd place. We are behind of only 30 developed and 2 developing countries. This means that we occupy 33rd and 35 places for competitiveness and development respectively. This is the indicator and result of our policy supported by the energy sector. Perhaps, we will continue working actively with our partners towards the energy development. However, at the same time, I would like to inform our guests that the most important for us is, perhaps, the non-energy sector,” the head of state noted.