Azerbaijan ensured successful economic development in 2011, President Aliyev

Baku, January 1 (AzerTac). “Year 2011 is being consigned to history. It has been a successful year for our country. The key issues facing the country in 2011 have been resolved. Azerbaijan has ensured a successful economic development. It is gratifying that the non-oil sector of our economy has substantially expanded. Our non-oil economy has grown more than 10 per cent, which is evidence of the reforms conducted in previous years,” President of Azerbaijan Ilham Aliyev said in his congratulatory message on the occasion of the Day of Solidarity of Azerbaijanis of the World and New Year The Head of State pointed out all sectors of Azerbaijan`s economy are developing. “Extensive creative and landscaping work is under way in the country. Azerbaijan is invigorating its positions in the region. Our economic development statistics are very positive. The country’s currency reserves are growing. We already have over $40 billion of currency reserves. Billions of dollars in investment are channeled in the national economy and this process is ongoing. The volume of investment is growing by the year,” he noted. Saying all regions are developing successfully, the Azerbaijani leader said this year, up to 100,000 jobs have been created. Overall, more than one million jobs have been created in the last eight years, the vast majority of which have been permanent. Population incomes have increased 20 per cent. The level of inflation is under 8 per cent. The level of poverty is falling. At the end of 2011, the level of poverty will be below 8 per cent. The unemployment rate is decreasing. The rate of unemployment in Azerbaijan is 5.5 per cent. “All these indicators suggest that our country is developing successfully and dynamically. Despite the negative developments unfolding in world and European economies, Azerbaijan is moving forward confidently,” the President added.