President: 2017 will be the year of economic development for Azerbaijan

"2017 will be the year of economic development for Azerbaijan."

"We will continue to implement efficient economic reforms. At the same time, we will increase spending for socially-oriented initiatives,” President Ilham Aliyev says in his article headlined “Azerbaijan's economic priorities for 2017”, which was published on the official website of the World Economic Forum.

“The diversification of our economy is almost complete. Now almost 70% of our GDP comes from outside of the oil industry. Our main target today is to diversify our exports. Measures taken in 2016 will lead to implementation of this goal. Azerbaijan is already ranked number 37 in the World Economic Forum's Global Competitive Index (Number 1 in the Commonwealth of Independent States) and we are determined to strengthen this progress,” the President notes.



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