CONTINUING REFORMS IN ECONOMY BRING GOOD RESULTS
Academician of the National Academy of Sciences of Azerbaijan Asaf Nadirov said that in 2002, the volume of revenues of the state budget supplied from all sources increased 85 times as compared to 1993. Budget deficit weight in GDP decreased from 11-14 percent early-1990s down to 0.4 percent in 2002 and the level of annual inflation from 1600-1800 down to 1-2 percent. For the period of 1996-2002, total incomes of the population increased 2.6 times and the volume of money revenues - 3.2 times.
Whereas price rise for consumer goods and services did not exceed 20 percent during that period.
According to the level of average monthly salary, Azerbaijan is ahead of neighboring Georgia and Armenia. Therefore, the amount of average monthly salary is by 30 and 36.1 percent higher than in Armenia and Georgia accordingly.
In January through August, 2003, GDP production increased by 10.1 percent as compared to the same period of 2002, money revenues per capita - by 11.9 percent and the average salary of employees - by 21.5 percent. For this period, 3.5 trillion manats have been supplied to the state budget, i.e. by 28.3 percent more than during the same period of 2002.
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