ECONOMY
BAKU HOSTS ECONOMIC POLICY FORUM
Baku, October 21 (AZERTAC). An Economic Policy Forum has kicked off in Azerbaijan`s capital under the co-chairmanship of Prime Minister Artur Rasizade and World Bank Managing Director Ms. Ngozi Okonjo-Iweala.
The forum focuses on achievements of Azerbaijan`s economy and measures to ensure its sustainable development.
The event brings together Azeri government officials, representatives of the Presidential Administration and parliamentarians as well as economists from European countries and the United States.
Opening the forum, Azeri Deputy Prime Minister Abid Sharifov highlighted ongoing social and economic reforms in the country, in particular those aimed at improving entrepreneurship.
He said over 5 years GDP grew 2.6 percent in Azerbaijan, while industrial production increased by 2.8 percent. Sharifov said despite global financial crisis, first nine months of the current year saw a 6.1 percent-increase in GDP, while industrial and agricultural output grew by 5 and 3 percent respectively.
He also noted the population`s incomes had risen approximately 10 percent, while monthly wages increased by 15 percent.
Sharifov also praised the Azerbaijani government`s “correct policy” to maintain the stability of the national currency, manat.
The deputy prime minister also praised the fact Azerbaijan was announced the top reformer country by the World Bank.
“Azerbaijan made an improvement in the World Bank 2009 “Doing Business” Report, jumping 64 places from 97 to 33, garnering it the designation of “Number One” Reformer for the year.”
Other speakers hailed the Azeri government`s efforts to improve infrastructure and reduce poverty.
Okonjo-Iweala said the forum was an excellent opportunity to discuss priorities of economic policy and institutional reforms which are necessary to continue the country`s social and economic development.
She underlined the event contributed to determining elements of the World Bank`s Partnership Strategy with Azerbaijan for 2011-2014.
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