Azerbaijan, Baku, Apr. 8 / Trend N.Ismayilova /
The World Bank presented a report analyzing the improvement of living conditions in Azerbaijan. The document reflects the bank's activity on assessing the poverty level in the country, and was prepared with the assistance of the Azerbaijani government.
"We intended to analyze Azerbaijan's economic growth and to identify how this was reflected in the improvement of the living standards," WB Baku Office head Gregory Jedzejczak said.
He added that the report has been submitted to the government.
"The main goal we pursued was the proper planning of the country's future economy," he said. "Results showed that there is a need to direct proceeds from the oil sector to the diversification of the economy and to start investing in human capital development."
According to WB head, human capital development implies increasing the number of highly qualified individuals, which requires investments in education.
WB Chief Economist Lire Ersado said the country experienced a significant decline in poverty in 2001-2008 - from 50 to 13 percent.
"In 2006, Azerbaijan launched a program of targeted social assistance, which showed very good results, even compared to developed countries," Ersado added.
According to the economist, about 2.5 million people in the country moved from beneath the poverty line to having an average income, which is a very serious and a good result.