AZERBAIJAN WITHSTOOD GLOBAL CRISIS THANKS TO SWIFT ANTI-CRISIS MEASURES, ECONOMY MINISTER
Baku, June 26 (AZERTAC). The firmness of Azerbaijan`s economy against the global crisis has been ensured by swift anti-crisis measures taken by the government, the country`s economic development minister has said.
“Our economy has withstood thanks to the well-considered socio-economic policy,” said Shahin Mustafayev.
“There is a number of factors that allowed Azerbaijan to have overcome the crisis. Among them, for example, are - creating strategic currency reserves, effectively managing oil revenues, diversifying economy, developing the non-oil sectors, ensuring the balanced development of the regions, providing government support to entrepreneurship, and boosting the private sector.”
“By the way, the National Entrepreneurship Support Fund allocated 163 millions US dollars to over 2,100 businessmen in 200,” he added.
Mustafayev said the country`s economy even managed to record growth amid the global crisis:
“In the year 2009, which was the most difficult, Azerbaijan`s Gross Domestic Product saw a 9.3-percent increase, while its foreign trade saldo made 8.6 billion US dollars.”
“Also the population`s incomes saw a 8-percent growth, while average monthly wages increased 8.6 percent last year,” added the minister.
Other news in this section
