(MENAFN- Trend News Agency)
BAKU, Azerbaijan, April 15. Economic growth
accelerated in Azerbaijan, state support in the social sphere
increased, foreign exchange reserves increased, investments in the
economy and financial support for entrepreneurship increased, the
successful renovation of social infrastructure and the
implementation of other programs continued as a result of
successful economic reforms carried out under the leadership of
Azerbaijani President Ilham Aliyev, Member of Committee on Economic
Policy, industry and Entrepreneurship of Azerbaijani Parliament
(Milli Majlis) Aydin Huseynov told Trend .
According to him, 1Q2022 were quite successful for
Azerbaijan.
'GDP increased by 6.8 percent, non-oil economy grew by more than
10 percent during this period. Growth in industrial production
sphere is about 4 percent and in the non-oil industry it exceeds 18
percent. All this indicates that our economy has entered into a new
stage of development in the post-pandemic period,' Huseynov
said.
The external public debt is also being reduced due to
implemented perfect strategy. External public debt was 18 percent
of GDP a few years ago and it is only 12.5 percent at present.
Azerbaijan's external debt decreased by more than $600 million due
to new debt management strategy. Expenses for servicing the public
debt in the state budget are declining every year, MP noted.
According to MP, Azerbaijan's active cooperation with
international organizations has also been successfully continued
and the world's leading international organizations are accepting
the new realities created by Azerbaijan.
In particular, the environment formed by Azerbaijan after
ensuring its territorial integrity in connection with new
cooperation and diversification of communications in the South
Caucasus region, efforts towards signing a peace agreement with
Armenia could lead to a new stage in the development of relations
between international structures (including the EU) with
Azerbaijan.
Contacts, in particular with the EU, became more intense after
the second Karabakh War and the recent agreements in Brussels
testify to the acceptance of new realities.
'Large-scale construction work is underway in Azerbaijan's
liberated territories from Armenian occupation, wide opportunities
for economic cooperation are opening up in the region and reputable
foreign companies are involved in these processes,' Huseynov
said.
'From this point of view, international organizations, foreign
countries that accept the new realities created by our country have
a positive attitude towards modern trends in the development of
relations with Azerbaijan. Of course, the achievement of all this
became possible due to the principled political will of
Azerbaijan's Head of State,' Huseynov added.
World economy faced certain difficulties in 2022, Azerbaijani MP
Azer Badamov told Trend .
Russian-Ukrainian military conflict, which began in February,
also had a negative impact on the development of economic ties, he
noted.
The economic and political processes taking place in world have
a certain impact on the economy of Azerbaijan, however, despite
this, forward-looking policies pursued under the leadership of
Azerbaijani Head of State creates conditions for maintaining the
pace of the country's economic growth, Badamov said.
'Coronavirus COVID-19 pandemic also had a negative impact on
Azerbaijan's economy. However, timely decisions, deepening of
ongoing reforms and far-sighted steps taken towards the development
of the non-oil sector made it possible to complete the first
quarter of this year with high indicators,' Bayramov noted.
'Paying attention to macroeconomic indicators, we see that GDP
grew by 6.8 percent, non-oil economy - by more than 10 percent,
industrial production - by 4 percent, the non-oil industry grew by
18 percent, foreign trade turnover increased by 60 percent, export
of non-oil products - by 45 percent, external public debt decreased
by more than $600 million in 1Q2022,' Badamov added.
The volume of transfers from Azerbaijan's State Oil Fund was 423
million manat ($248.8 million) less than planned, despite the
implementation of 99 percent of budget revenues, which is also an
indicator of a correct economic policy, he noted.
'The completion of 1Q2022 with economic growth, also the
reduction of external public debt, became possible due to the
instructions given by the Head of State in the direction of
ensuring the development and transparency of the country's economy,
also signed decrees and orders,' parliamentarian said.
'President Ilham Aliyev, re-elected Head of State in 2018 by a
majority vote of Azerbaijan people, at the inauguration ceremony
announced the further deepening of reforms in our country. The
timely implementation of reforms made it possible to successfully
fight the pandemic, end the 44 day second Karabakh War with
victory, and achieve rapid economic growth in the post-pandemic
period,' MP noted.
'Azerbaijan's Government Budget received 539 million manat ($317
million) or 23.8 percent more by the State Tax Service in 1Q2022
and 236 million manat ($138.8 million) or 23.7 percent more than
expected through the State Customs Committee, due to the increase
in state support for the development of the non-oil sector, the
expansion of anti-corruption measures in economy and transparency
of economy,' Bayramov added.
Tasks facing the state budget are being successfully implemented
and along with economic growth, the agenda includes measures to
fight against rising prices and ensure food security, he noted.
'Azerbaijan's Cabinet of Ministers, on behalf of Head of State,
is taking measures to fight against artificial price increases,
create food reserves and diversify sources of imports. The success
of the measures taken in spite of the fact that, today sufficient
food reserves have been created in our country, the existing
reserves are analyzed daily and appropriate decisions are made,'
Bayramov added.
'I believe that the results we achieved in 1Q2022 and the
measures that are planned to be implemented by the end of 2022 will
not only protect Azerbaijan's economy from external influences but
will also allow us to achieve better results at the end of the
year,' Azerbaijani parliamentarian Bayramov emphasized.
Tags:
- Azerbaijan
- Azerbaijani President Ilham Aliyev
- strategy
- economy
- Milli Majlis (Parliament) of Azerbaijan
- MPs
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