Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Tuesday, August 22, 2017

Azerbaijan reports strong 2014 data at World Economic Forum

The U.S.-Azerbaijan Chamber of Commerce released a summary on Tuesday of the economic activity that Azerbaijan showcased at the World Economic Forum recently in Davos, Switzerland.

Azerbaijan's delegation reported 3 percent growth in its GDP for 2014 -- 7 percent growth in non-oil-related sectors -- and said the country was able to hold inflation at 1.4 percent. It also said disposable income increased by 4.8 percent, and investments accounted for $27 billion, $16 billion from domestic sources.

Azerbaijan President Ilham Aliyev and First Lady Mehriban Aliyeva led the delegation. The forum's central topic was income and overall wealth inequality. To this end, the president said progress was being made in his country. He said average salaries had increased by over $7,000 and that the state has pledged to support more than 90,000 families that are struggling.

The Azerbaijan delegation said the nation's unemployment rate fell below 5 percent in 2014.

Organizations in this story

United States - Azerbaijan Chamber of Commerce 1212 Potomac Street, N.W. Washington, D.C. - 20007

Get notified the next time we write about United States - Azerbaijan Chamber of Commerce!