Minister: $184B was invested in fixed capital during 22 years

Minister: $184B was invested in fixed capital during 22 years
  • Clock-gray 10:57
  • calendar-gray 01 May 2017

According to him, consequently, the World Bank included Azerbaijan in the list of low-income countries in 2005, upper-middle-income countries in 2009.


“In order to improve social security of the population, minimum salary, pension, need criteria, subsistence minimum, salaries of employees of budget-funded organizations increased. So, personal incomes increased 9.8-fold to AZN 4,380 compared to 1995, average monthly salary soared to AZN 467 in 2015 from AZNB 44.3 in 2000, average pension surged to AZN 178 in 2016 from AZN 14 in 2001, poverty level reduced to 4.9% from 49% in 2001”, he said.


The minister noted that three state programs aimed at socio-economic development of the regions created financial guarantee for sustainable development of non-oil sector, realization of modern infrastructure projects in the regions and opening of new production and processing enterprises: “In 2004-2015, 1,480,000 new jobs, including 1,102,000 permanent jobs were launched in the country, of which 66.4% are in regions. Currency reserves increased to $37 billion in 2016 from $250 million in 1995. Moreover, $184 billion was invested in fixed capital in 1993-2015. Annual volume of capital investment increased to $20 billion in 2015 from $6.3 million in 1993. These investments allowed to construct, reconstruct and restore 2,124 schools, 351 kindergartens, 300 medical, 144 cultural and tourism centers, 82 sport and Olympic complexes in 2004-2015. At the same time, 8,600 km roads, 320 new bridges, 39 overpasses, 38 tunnels and 55 underground and surface pedestrian crossings were constructed in the reporting period”.  

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