President Aliyev: Azerbaijan’s dynamic development not affected by sharp decline in oil prices

Baku, Azerbaijan, Apr. 10 Trend: The sharp decline in oil prices on world markets has not affected the dynamic development of Azerbaijan, said Azerbaijan’s President Ilham Aliyev. He made the remarks Apr. 10 at a meeting of the Cabinet of Ministers dedicated to the social and economic development in the first quarter of 2015 and the tasks ahead. The president said the results of the first quarter of 2015 were positive, and the GDP grew by over five percent in this period. He added that a dynamic development was ensured in Azerbaijan, and in the last three months, the non-oil sector grew by over seven percent, industrial production by four percent, and agriculture by three percent. Stressing that all this was possible as a result of a thought-out economic policy that has been pursued in the country in recent years, President Aliyev said the sharp drop in oil prices in the world has had no impact on the overall dynamic development. He said the inflation in Azerbaijan remains at a low level, the consumer market is being fully controlled, and the growth of the population’s money income totaled 5.3 percent. Follow us on Twitter @TRENDNewsAgency