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President Ilham Aliyev: Azerbaijan's economy grew by 5.3 percent in the first 11 months

01 January 2022 02:13 (UTC +04:00)

Work done in all liberated lands is carried out at the expense of the state budget of Azerbaijan. We have not received any assistance, we have not received any loans, so we are doing this work on our own, said President Ilham Aliyev in his address on the occasion of the Day of Solidarity of World Azerbaijanis and the New Year, APA reports

"Of course, if economic development does not go fast, it will not be possible to do it at this speed. As a result of the work done, we can say that we have already entered the post-crisis period. Azerbaijan's economy grew by 5.3 percent in the first 11 months of this year, while the non-oil economy grew by 6.4 percent. Industrial production increased by 5.5 percent and in the non-oil sector by 20.7 percent. Our foreign exchange reserves have increased by $2.2 billion. The positive balance of our trade relations is $9.4 billion. Our external public debt accounts for only 17 percent of our gross domestic product, and this year the external public debt has decreased, both in absolute terms and in relation to GDP," said President Ilham Aliyev