Azerbaijan Records Significant Decrease In Poverty Level - Official
Date
10/14/2023 6:08:50 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 14. Azerbaijan's
gross domestic product increased from $7.3 billion to $78.7 billion
over the past 20 years, Head of the Presidential Administration of
the Republic of Azerbaijan Samir Nuriyev said, Trend reports.
Nuriyev made the remark at a conference organized by the Cabinet
of Ministers of the Republic of Azerbaijan, dedicated to "20 years
of unequaled service to the Motherland, people and statehood"
topic.
He noted that in the reporting period, state budget expenditures
increased from 1.2 billion manat ($710 million) to 36.6 billion
manat ($21.5 billion).
"Strategic foreign exchange reserves grew from $1.4 billion in
2003 to $66.1 billion as of October 1, 2023. The total volume of
investments in the country's economy from 2003 through 2022
amounted to $310.4 billion. Compared to 2003, the poverty level in
2022 decreased from 44.7 percent to 5.5 percent, and the average
monthly wage increased from 77.4 manat ($45.5) to 839.4 manat
($493.7)," added the official.
A conference organized by the Cabinet of Ministers of the
Republic of Azerbaijan, dedicated to "20 years of unequaled service
to the Motherland, people and statehood" topic, is taking place in
Baku today under the co-chairmanship of Azerbaijani Prime Minister
Ali Asadov and Head of the Presidential Administration of the
Republic of Azerbaijan Samir Nuriyev.
The conference is dedicated to the activities of President of
the Republic of Azerbaijan Ilham Aliyev.
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