Azerbaijan, Baku, May 11 /Trend, N.Ismayilova/
The GDP in Azerbaijan increased by 2.8 times in 2004-2009 and its per capita amount reached $4,874.1 last year, said the article by the Minister of Economic Development Shahin Mustafayev, published in the official press.
The strategic currency reserves of Azerbaijan have reached $22 billion, which six times exceed country's foreign debt and cover the non-oil imports and services. Acceptable business conditions contributed to investments in the economy to exceed $70 billion, half of which consists of foreign investments.
Budget expenditure increased by 4.8 times in 2004-2009 to implement the activities in enhancing social welfare, the average monthly salary - three times, the income of the population - 3.4 times, per capita income - 3.2 times, the minimum pension - 3.8 times, the minimum wage - 6.3 times. The level of poverty over the past five years decreased 4.1 times - from 44.7 percent to 11 percent. About 840,000 new jobs were opened over the past six years.
In 2009, community deposits in Azerbaijani banks grew by 23 percent, the amount of lending to economy - 17 percent. Compared with last year, financial services increased by 12.5 percent. Nominal per capita income increased by 6.7 percent compared to 2008, while the average wage - by 8.6 percent.
In the first quarter of 2010, the real GDP growth was 5.4 percent, including oil sector - 6.9 percent, non-oil - 4.3 percent. During this period, growth in industry was 6.2 percent, agriculture - 1.5 percent, telecommunications sector - 24.8 percent, trade - 6.2 percent, transport - 2.6 percent.