Elman Rustamov: Surplus in balance of payments makes 2.5% of GDP

Baku. 19 September. REPORT.AZ/ During the short period of time national economy grew more than three times.

Report informs, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov said.

According to him, the poverty level in the recent years fell by 10 times.

“In last 8 months, Azerbaijan’s strategical currency reserves grew by 12%. In first half of this year, surplus in balance of payments in Azerbaijan amounted to 2.5% of Gross Domestic Product (GDP)”, said the CBA governor.

E. Rustamov added that as of today, World Bank allocated $3.5 bln for more than 50 projects in Azerbaijan. Currently the organization has 10 active projects in the country with total value of over $1.1 bln.”

According to him, Azerbaijan successfully cooperates with International Financial Cooperation (IFC) which is a member of the World Bank Group. “As a result of this cooperation, the IFC has allocated $ 0.5 bln to Azerbaijan.”