OFFICIAL NEWS
PRESIDENT ILHAM ALIYEV HOLDS MEETING OF THE CABINET OF MINISTERS ON RESULTS OF THE 1ST QUARTER OF 2007
On April 13, President of Azerbaijan Ilham Aliyev has held a meeting of the Cabinet of Ministers to discuss results of the 1st quarter of this year.The President said the unprecedented economic growth the country has achieved over the past years, continued in the 1st quarter of 2007.
“The Gross Domestic Product reached 40% in the 1st quarter of 2007 against 26% in 2005 and 35% in 2006, while industrial production increased by 39%,” he said.
Having described the state policy as socially oriented, President Ilham Aliyev said that in January, minimum wages and pensions reached 50 manat and 70 manat respectively, 55 thousand families were involved in direct social aid program, and incomes of population increased by 33%.
He said that the country’s currency reserves currently make up $4.1 billion. Noting that stratification is usual for oil-rich countries, the President stressed that serious observance of the principles of justice and transparency enables every citizen to benefit from oil revenues.
He said construction of the Oguz-Gabala-Baku water pipe started in the 1st quarter is also funded by oil revenues. The President described the Baku-Tbilisi-Ceyhan oil pipelines’ reaching full capacity as well as the start of exporting natural gas from Shah Deniz field as important milestones of the 1st quarter. He stressed the role of the Caspian energy resources in strengthening of the country’s economy, adding that this factor is an effective tool to enhance Azerbaijan’s regional and international prestige. Having described the signing of the agreement on Baku-Tbilisi-Kars railroad project as another milestone achieved in the 1st quarter, the President said it is also one of the factors proving that Azerbaijan acts independently while dealing with regional issues.
“Despite the efforts by Armenia, which remains isolated from important regional projects, to hamper the construction of the Baku-Tbilisi-Kars railroad, Azerbaijan has managed to achieve a positive solution to this problem,” he said.
Pointing to Armenia’s destructive position in the negotiations on settlement of the Nagorno-Karabakh conflict, the Azerbaijani leader stressed once again that Azerbaijani lands will be freed from occupation, and no independence will ever be given to Nagorno-Karabakh.
Other speakers including Samir Sharifov, Minister of Finance, Heydar Babayev, Minister of Economic Development, Fazil Mammadov, Minister of Taxes, Azad Rahimov, Minister of Youth and Sports, Elman Rustamov, Chairman of the Board of the National Bank of Azerbaijan and Rovnag Abdullayev, President of the State Oil Company of Azerbaijan, delivered reports on the work done by their departments in the 1st quarter of 2007.
Summing up the meeting President Ilham Aliyev focused on the problems existing in the country’s economy and social life. He gave instructions aiming to minimize inflation. He touched upon subjective reasons for price hikes in consumer markets saying it is largely caused by lack of sound competition, and in some cases, by monopolization of markets. The President stressed that along with paying more attention to development of entrepreneurship, it is necessary to use administrative sanctions to eliminate such negative facts.
He finally gave concrete instructions aiming to ensure sustainable development in all spheres of the country’s life.
