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Azerbaijan maintained its rapid development rate in the first quarter of 2015

Interview with  Member of YAP Political Council, deputy chairman of the party`s Economic Affairs Commission. Aydin Huseynov

Q: What can you say of socio-economic results of the first quarter of 2015?

A: Azerbaijan has managed to maintain a high pace of development. We provided for the security of our country and implemented economic and social programs. This demonstrates once again that ours is the right path. Azerbaijan is going along the path of independence and development. The economic and financial crisis that gripped the world a few years ago, as well as the negative events and conflicts taking place in the region, did not affect the successful development of Azerbaijan. The main reason here is the stability of the sociopolitical situation in Azerbaijan, the unity between the people and the government and the successful implementation of all our programs. The country's economy has developed successfully.

Q: What about the non-oil sector? What role does it play in the overall development of economy?

A: At the beginning of last year we set the goal of achieving growth of both the gross domestic product and the non-oil sector. These two main objectives have been met. Our economy has grown by about 3 per cent. This is an excellent indicator in today's world.

Despite the fact that oil prices plummeted at the end of last year, the economy of Azerbaijan has increased by almost 3 percent. It is very delightful that our non-oil sector has increased by 7 per cent. This is a good example of the work carried out in the last few years and a manifestation of our policy. As President Ilham Aliyev said at the Cabinet meeting, in the future, the non-oil sector will provide for even greater economic development of Azerbaijan. The development of the non-oil sector will enable us to achieve a diversified development of the economy and ensure its sustainable development.

The year 2015 saw the development of industry in the country. The creation of state-of-the-art industrial complexes and technoparks has paved the way for the strengthening of the country`s industrial potential. Continuous measures taken in the last years have contributed to elevating industrialization in Azerbaijan to a new level. A key role in this is played by the state program for the development of industry, which covers the years 2015-2020.

Q: And what can you say of people`s well-being?

A: Inflation was very low – 2.8 per cent. This is also a great indicator. Incomes of the population have increased by 5.3 per cent, exceeding the inflation rate more than three times. I can say that there has been a picture in recent years when population incomes grow several times faster than inflation. And this has a positive effect on people’s well-being. Average monthly wage has reached 450 manats.  Azerbaijan has almost approached one of the best indicators in the Commonwealth of Independent States in terms of the size of the average monthly wage.

Q: How does this development impacts on districts?

A: The successful implementation of the state program for the socio-economic development of the districts in 2014-2018 has contributed to diversifying the national economy, ensuring sustainable development of the non-oil sector, improving infrastructure and social services. A total of nearly 30,000 jobs were created in the country in the past quarter, with 25,000 of them being permanent. Considerable accomplishments were made in the development of industry, agriculture, entrepreneurship, infrastructure, education, healthcare, culture, sports, information and communication technologies, social services, tourism and other areas. The level of poverty and unemployment was reduced to 5 percent.

As President Ilham Aliyev said the macroeconomic situation in Azerbaijan is stable. Among the top priorities in recent years we have always pointed to macroeconomic stability. It is important for the country's economy, a very important factor for attracting foreign investment. At the same time, macroeconomic stability is the most important contributor to the welfare of people, and we have secured economic stability over the years.