(MENAFN- Trend News Agency)
BAKU, Azerbaijan, April 15. A meeting dedicated
to the results of 1Q2022 in Azerbaijan was recently held under the
chairmanship of President Ilham Aliyev. It was noted at the meeting
that despite global shocks, the Azerbaijani economy was able to
maintain rapid growth rates over the past quarter. The GDP
increased by 6.8 percent in 1Q2022.
The non-oil economy grew by more than 10 percent. External
public debt has been reduced. The external public debt was 18
percent of GDP in April 2021, at present it is only 12.5 percent.
Azerbaijan reduced its external debt by more than $600 million over
the year.
Commenting on the matter, US analyst Irina Tsukerman told
Trend said that
President Ilham Aliyev's visionary leadership has been instrumental
to growth of economy and to a rise in quality of life.
She noted that there are several factors contributing to
Azerbaijan's positive economic growth.
First, with 20 percent of the country now liberated [from
Armenian occupation], the clearing and reconstruction efforts are
stimulating the economic activity.
Second, amidst the energy crisis in Europe, Azerbaijan, as an
important energy supplier is both playing an instrumental role and
benefiting from the rising prices on oil and gas.
Third, as a direct result of its positive engagement with the
European Union and efforts in outreach to its neighbors, Azerbaijan
is playing a rising role in regional and global problem-solving
which both stimulated human potential and helps attract investments
and to present the country in a positive light before the
international financial institutions.
“It's also worth noting that Azerbaijan's non-energy sector is
expanding, which means that Azerbaijan is successfully diversifying
its economy. Another issue worth noting are the economic reforms
that have been undertaken by President Ilham Aliyev since 2018,
including tax reforms, education, agriculture, rural development,
environment, and energy,” she said.
“Since 2019, there's been more of a budget allocated to
education which leads to more qualified professionals entering the
job market. There's been also a growth in health care and expansion
of human capital in that sector. The government is successfully
expanding leading industries and sectors which are both
contributing to the economy and to a rise in quality of life.
President Ilham Aliyev's visionary leadership has been instrumental
in that regard,” she said.
In turn, Peter Tase, US expert, strategic adviser on
international affairs and public diplomacy to governments,
universities, and corporations in Europe and the Americas, told
Trend that
patriotism, unbridled leadership embraced while executing large
infrastructure projects are the highlight in Azerbaijan and
President Ilham Aliyev is Eurasia's most dynamic president.
“Fuzuli International Airport construction and inauguration,
Agdam Industrial Park, strengthening of agriculture economics and
advancement of regional energy projects are the main source of
having a positive economic performance of Azerbaijan in the first
quarter of 2022,” he said.
Tase noted that European Union and European Commission are aware
of these economic endeavors in Azerbaijan and unwavering statecraft
of President Ilham Aliyev has been emphasized and highlighted in
Brussels and Strasbourg.
“The Economy of Azerbaijan has delivered impressive results
thanks to the top notch performance of the government of Azerbaijan
and the war against corruption and organized crime in the country
has been highly successful. Azerbaijan will continue to expand its
presence in international markets and national economy has a
promising environment and definitely improve the wellbeing of all
citizens in Azerbaijan,” Tase added.
President Ilham Aliyev is a statesman with outstanding vision,
commitment, fortitude and positive energy, Tase said, adding that
all these qualities have helped his administration achieve
impressive economic results.
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Tags:
- Azerbaijani President Ilham Aliyev
- Peter Tase
- Irina Tsukerman
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