Ilham Aliyev: “Azerbaijani economy grows by 5.3 percent in the first 11 months of this year, while the non-oil economy grows by 6.4 percent”

“Of course, in order to achieve all this, our economy must develop successfully. Everyone in Azerbaijan and indeed the world knows that Azerbaijan is doing this alone, without receiving a single manat or a dollar from the outside. Work done in all liberated lands is carried out at the expense of the state budget of Azerbaijan. We have not received any assistance, we have not received any loans, so we are doing this work on our own. Of course, if economic development does not go fast, it will not be possible to do it at this speed. As a result of the work done, we can say that we have already entered the post-crisis period. Azerbaijan’s economy grew by 5.3 percent in the first 11 months of this year, while the non-oil economy grew by 6.4 percent,” Report informs that President Aliyev said this in his address to the people of Azerbaijan on the occasion of December 31 – the Day of Solidarity of World Azerbaijanis and the New Year.

The president said:

“Industrial production increased by 5.5 percent and in the non-oil sector by 20.7 percent. Our foreign exchange reserves have increased by $2.2 billion. The positive balance of our trade relations is $9.4 billion. Our external public debt accounts for only 17 percent of our gross domestic product, and this year the external public debt has decreased, both in absolute terms and in relation to GDP.

“In other words, any country would be proud of such indicators. But for us it is natural. Because the people of Azerbaijan see that economic development is envisaged as a result of the implementation of a long-term and correct strategy. At the same time, economic reforms, transparency and the fight against corruption and bribery are bearing fruit.”