Ilham Aliyev: Azerbaijan joined group of above-average income countries

"In recent decades, Azerbaijan's economy has more than tripled. Azerbaijan is included in the group of countries with above-average incomes," Azerbaijani President Ilham Aliyev said in the "Formula of Power" program of Russia 24 TV, Report informs.

"There is a steady demographic growth in the country. Oil production is increasing. Today, Azerbaijan is one of the leaders in achieving energy security globally. On September 14, 2017, a new agreement was signed in Baku on the joint development of the Azeri, Chirag and Gunashli fields. More than $36 billion has been invested in this project; 500 million tons of oil were extracted. On May 29, 2018, the Trans-Anatolian Gas Pipeline (TANAP), an important part of the Southern Gas Corridor, was officially opened. Azerbaijan has proven gas reserves of 2.6 trillion cubic meters and projected reserves of about 3 trillion cubic meters," the head of state said.

Noting that Azerbaijan is very active in overcoming its dependence on oil, President Ilham Aliyev said that focusing on the non-oil sector has been and remains a key priority.