USD 97 bln invested in Azeri economy

Azerbaijani president Ilham Aliev stated recently that USD 97 bln has been invested in the country’s economy. Out of this amount, USD 42 bln has been invested in the oil and gas sector. Azerbaijan exports its natural gas into four different destinations and oil into three destinations. There are negotiations underway between Azerbaijan and Turkey concerning the export of Azeri gas through Turkey to the European and world market. There are further explorations underway and presumably Azerbaijan will increase its oil and gas exporting facilities. Strategic currency reserves of the country reached USD 35 bln, and level of the poverty in the country is decreasing. Industrial potential is increasing as well and there are signs of development in the non oil sector, stated the Azeri President.