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Azerbaijanâ€™s industry growth to peak in 2007

01 November 2006 15:59 (UTC +04:00)

Gross domestic product â€“ the output of goods and services produced by labor and property in Azerbaijan- grew by 34% year on year, in the first nine months of 2006, to AZN 12.7302bn, Finance Ministry officer Khagani Rzayev said during discussions on Draft 2007 State Budget in Milli Majlis commission, APA reports.
He said AZN 4.3bn was invested in the economy in nine months which increased by 16.4%, year-on-year, in the nine-month period.
Foreign investment made up over 60% of the investment made in economy.
Mr. Rzayev also said that it is forecasted that the GDP of Azerbaijan will grow to AZN 22.2bn and the real growth will be 26.3%, per capita GDP will rise 21.3% to AZN 2 600.
â€œIndustry will develop at the fastest pace in 2007. The industrial growth will reach 41.8%. Besides, the growth rate of non-oil sector will be 9%, and the inflation rate is forecasted to be one-digit. /APA/