Investments in Azerbaijani economy up

Thu 19 Sep 2019 07:34 GMT | 11:34 Local Time

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The amount of Azerbaijan’s investments to the foreign countries reached almost $24 billion over the past 25 years, Trend reports referring to the Azerbaijani state oil company SOCAR.

The remarks were made on the occasion of the 25th anniversary of signing of the Contract of the Century. Contract of the Century was signed in 1994. This is Azerbaijan’s first agreement with big foreign oil companies, which have been invited to invest in the development of the country's huge oil and gas resources in the Caspian Sea. Twenty-five-year-anniversary since the moment of signing the contract has been marked this year.

The investments made in the Azerbaijani economy increased by 28 times over the past 24 years and exceeded $15 billion in 2018.

The poverty level in the country decreased by almost 10 times down to five percent over the past 17 years.




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