On October 24th President of Azerbaijan Ilham Aliyev presided over a Cabinet meeting on the outcomes of the country`s socio-economic development in 9 months of 2011.
The President made opening remarks in the meeting, saying the year 2011 marked a success for Azerbaijan`s economy. He noted Azerbaijan managed to have fulfilled all socio-economic tasks the country faces.
President Aliyev said the country built a strong industrial potential, with the manufacturing sector having strengthened.
The Head of State said developing the private sector was among the key priorities for the government in the first nine months of the year. "We have made considerable success in the agricultural sector. Next year we will implement large-scaled programs in this sector." He added: "The agricultural sector saw 7.6 percent increase in the three quarters of the year."
The President said the country`s currency reserves increased $11 billion to exceed $40 billion. "We ensured this thanks to our growing economic potential."
President Aliyev highlighted Azerbaijan`s social policy, saying serious steps have been made to strengthen the population`s social security. "We have a targeted social program, which covers 113,000 low-income families who receive an average of 130 dollars." "We have carried out successful reforms to increase pensions and eliminate the unemployment level, which currently stands at 5.5 percent." He said: "Additional efforts are being made to decrease the unemployment level in the county. Nine months of this year saw the opening of 74,000 jobs in the country, with 50,000 of them being permanent. As a result, the number of jobs opened in Azerbaijan in the last 8 years reached 950,000."
On the Armenia-Azerbaijan, Nagorno-Karabakh conflict, President Aliyev said the principle of territorial integrity was a priority in the issue. "But, unfortunately, the conflict has not yet been resolved."
"Azerbaijan enjoys a growing international image, and support of our country`s bid at the elections to a non-permanent seat at the UN Security Council is an evidence to this. Armenia also initially launched a bid to become a non-permanent member at the Council. But they then withdrew because they knew they would not be able to compete with Azerbaijan. I would characterize the fact that 113 countries supported Azerbaijan in the UN elections is a logical result of what we have done over 20 years of independence."
Other speakers, including finance minister Samir Sharifov, minister of communication and information technologies Ali Abbasov and transport minister Ziya Mammadov highlighted the country`s socio-economic achievements in the three quarters.
President Aliyev made closing remarks.
He stressed the importance of fulfilling all existing programs until the end of the year. The President said the country would maintain the macroeconomic stability.
"The population`s incomes grew 19 percent this year, exceeding the inflation by two-fold."
"The implementation of main infrastructure projects will be a priority in 2012-2013s. We will attach a particular emphasis to increasing the electricity production, implementing projects on renewable energy, as well as increasing the potential of export-oriented industry."
"Azerbaijan`s Gross Domestic Product must at least double in the next 10 years," he added.
The Head of State also emphasized the importance of developing agriculture and entrepreneurship, making investments abroad, and increasing the potential of ICT and energy sector.

AzerTAc