Azerbaijan`S Economic Development Mainly Generated By Our Reforms - President Ilham Aliyev
Date
12/9/2023 3:09:33 AM
(MENAFN- AzerNews) Azerbaijan`s economic development is mainly generated by our
reforms. We managed to diversify our economy, and to reduce the
dependence on oil and gas sector, though, oil and gas sector
continues to be the main part of our economy, said President of
Azerbaijan Ilham Aliyev in his interview with Euronews channel, Azernews reports.
“This year, our economic growth is a little bit modest, because
of the slight decline of the oil production. The GDP of Azerbaijan
grew more than four times for the last 20 years, and that was a
very remarkable achievement. At the same time, we managed to
conduct a very sophisticated, social policy. We managed to reduce
the level of people who lived in poverty during the last 20 years
from almost 50 to 5.5 percent. This demonstrates that the wealth
generated by energy projects was fairly distributed between all
segments of our population,” the head of state underlined.
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