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Aliyev proud of the success of his term

Thursday, October 16
On the eve of the Presidential elections Ilham Aliyev has reported to the country on the success it has achieved during the past five years. From 2003 to 2008 Azerbaijani GDP has increased 2.7 times and over the last four years Azerbaijan has become a leader in economic development. USD 44 billion was invested in Azeri economy over the last five years.

In 2003 the Azeri state budget was USD 1.48 billion, whereas in 2008 the state budget is USD 18.51 billion. In 2009 the budget will reach USD 22 billion. Five years ago the country had USD 1.6 billion in currency reserves, today it has USD 17 million.

The country has increased its oil extraction from 15 million tonnes to 52 million tonnes. 8 new power stations have been built and in the near future the country will be producing 1.7 megawatt electricity which will enable it to export electricity. In the last five years the Baku-Tbilisi-Ceyhan oil and Baku-Tbilisi-Erzerum natural gas pipelines have started functioning.

President Alyiev highlighted serious social-economic programmes implemented during the last 5 years, which have resulted in an eightfold increase in minimal salaries, the average salary reaching more than 300 dollars per month and a decrease in poverty levels from 49 per cent to 16 per cent. He also mentioned the construction of new airports, modern motorways, bridges, 1,600 schools, 14 sports complexes and a railway.