Azerbaijan reports $100 billion of investment in 20 years

The Azerbaijani economy has received $100 billion of investment in the last 20 years, 1news.az reports.

Minister for Economic Development Shakhin Mustafayev said that interior investments were 47.5% of capital investments in 2000. The indicator increased 16.3-fold in 10 years and reached 75.7% in 2010. Foreign investments rose 4.7-fold. Private sector has an 80% share of the GDP.

Mustafayev reported that measures in 1995-2003 allowed budget income to increase 3-fold. The figure increased 9.3-fold in 2010, compared with 2003.

The budget deficit ratio to the GDP dropped by 0.9% in 2010.

The minister underlined that lack of strategic currency reserves in early years of independence was followed with $1.6 billion of reserves in 2003.

The indicator increased 85-fold in 1995-2003. Today’s currency reserves of Azerbaijan exceed $40 billion, exceeding the foreign debt 8-fold. The foreign debt shares 7.4% of the GDP, meeting the international standards.