Speaker Ogtay Asadov: Azerbaijani Government’s report was a thoroughly prepared one

Azerbaijan’s parliament (Milli Majlis) has today discussed the report submitted by the Government on the performance of 2008.

Ogtay Asadov, Chairman of Milli Majis, said that the report was actually prepared thoroughly and accurately and reflects the analysis of socio-economic sphere, national security, civil defense, etc.

He quoted the report as saying the non-oil sector growth rate exceeded the oil sector growth in the country.

“Azerbaijan was very little affected by the global financial crisis which reached its peak last year. As against a year ago, the state budget revenue increased by 80% in 2008,” he added.
After his speech, the country’s First Vice-Premier Yagub Eyyubov presented the government report.

He noted that with the main focus on social issues the level of the average salary rose to AZN 268, average labor pension benefit to AZN 96, the number of targeted social assistance beneficiaries exceeded 700 000, 36 settlements were built over the past 5 years for the internally displaced people.

According to him, everybody saw a rise in their take-home pay.
”Over the past 5 years, the poverty rate decreased by 3-4 times to 13.2%. Economic growth more than doubled, and event increased by 2.5 times in some areas of the economy during five years,” he underlined.

In his words, from 2003 to 2008 the state budget grew by more than 10 times, the budget spending surge was 6.3 times in health care, 5.2 times in agriculture and forestry, 4.8% in education, 3.9 times in social protection and social security, 4.5 times in sports and physical training and 9.7 times in the defense sector.

According to government report, bank assets increased by 53%, capital by 47.8% and personal deposits at banks by 29.6% during this period.
The country’s strategic foreign exchange reserves amounted to $18 billion as of January 1, 2009. Besides, the government earned $412 million from the management of foreign exchange reserves.

According to the report, Azerbaijan oil industry grew by 2.9 times, gas production by more than 3 times and gas provision rate reached 85% across the country over the past 5 years.

During this period, 6 new power plants with total capacity of 750 MW were launched and electricity generation increased by 24.3%. The new construction and reconstruction projects in the transport sector spent more than AZN 2.4 billion and the telecommunications sector more than AZN 775.4 million.