(MENAFN- Trend News Agency ) Baku, Azerbaijan, March 19
Trend:
Serious reforms related to economic policy held for the recent period in Azerbaijan have yielded good results, Azerbaijan's President Ilham Aliyev said.
He made the remarks delivering a speech at the nationwide festivities on the occasion of Novruz, the Azerbaijani national holiday, in Baku March 19.
'We will continue these reforms and we will deepen them to further ensure stability of the Azerbaijani economy,' Ilham Aliyev said.
He noted that the country is developing successfully.
'Azerbaijan achieved great success in the economic sphere,' he said. 'The country's GDP grew 1.3 percent for the first two months of this year and GDP in the non-oil sector grew 2.3 percent. Industrial production grew 1.4 percent, while production in the non-oil sector grew 8.4 percent. Agricultural production increased by 4 percent, and incomes of the population grew 10.2 percent. Inflation stood at 4.7 percent. That is, the tasks we face are being fulfilled.'
He went on to add that Azerbaijan's currency reserves for the first two months of this year increased by $2.1 billion and presently amount to $44 billion.
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