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President: Azerbaijan has been passing through period of unprecedented economic growth since 2003

17 October 2016 17:13 (UTC +04:00)

Baku – APA. The Contract of the Century, which was signed in 1994 on the initiative of national leader Heydar Aliyev, plays an important role in the development of Azerbaijan, said President Ilham Aliyev.

The president made the remarks at an official reception dedicated to the 25th anniversary of restoration of Azerbaijan’s independence.

He noted that Azerbaijan opened the Caspian Sea to foreign investors for the first time in the history. “As a result, billions of dollars were invested in Azerbaijan and the country began to develop,” said President Aliyev.

A contract for the development of the Shah Deniz gas field was signed in 1996, he said, pointing out that this gas field plays a crucial role in ensuring energy security of Azerbaijan and the region, as well as Europe to a certain extent.

In 1993-2003, Azerbaijan experienced a period of development and stability, said the president. “It was the second period of our country’s independence,” he added.

“I would like to mention the first years of our independence. If a genius person like Heydar Aliyev was in power at that time, we wouldn’t have faced those disasters. But, we can’t change the history,” said Ilham Aliyev.

“I believe that 2003 is of special importance for our independent history, because in 2003, people of Azerbaijan made a decision regarding the path Azerbaijan should move on: whether it will continue Heydar Aliyev’s policy, or the country will again face troubles and disasters. Azerbaijani people, as always, showed their wisdom and voted for Heydar Aliyev’s policy,” said President Aliyev.

He pointed out that the reason for the failure of the alliance of Musavat and Azerbaijan Popular Front Party was the people’s will.

According to him, today’s realities show that the people of Azerbaijan made a right choice in 2003.

President Aliyev stressed that Azerbaijan has been passing through the period of unprecedented economic growth since 2003.

“The economy and industrial production have grown by three times. The poverty level has decreased to 5%,” said the president. “Unemployment level in the country is very low. More than 1,300,000 jobs have been created thanks to the state programs implemented.”

“Over the last 13 years, salaries and pensions in the country have raised repeatedly,” he added. “More than 3,000 schools, about 600 medical institutions and over 40 Olympic sports centers have been built in Azerbaijan.”