Azerbaijani President chairs Cabinet meeting to discuss outcomes of socio-economic development in 2011 and outline priorities for 2012

Azerbaijani President chairs Cabinet meeting to discuss outcomes of socio-economic development in 2011 and outline priorities for 2012

Azerbaijani President Ilham Aliyev has today presided over a meeting of the Cabinet of Ministers to discuss outcomes of the country`s socio-economic development in 2011 and outline priorities for 2012.
In his opening speech, the President said the country fulfilled all socio-economic tasks set in 2011. “Last year our economy grew 0.1 per cent, while the non oil sector saw a 9.4 per cent increase. The development of the non-oil sector played a key role in creating new jobs. The share of the non-oil sector increased 11.1 per cent last year.”
The Head of State said: ”We maintained a single-digit inflation, with the population`s money incomes increasing 19.6 per cent in 2011.”
The President said last year saw a record investment volume, adding “20 billion dollars were invested in the country”. 
“This included 13 billion dollars of domestic investment, while 7 billion dollars came from foreign sources. In general, the last two years saw 37 billion dollars invested in Azerbaijan.”

More...