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Azerbaijan Economy Grew 6 Percent in 2013 – President

Azerbaijan's gross domestic product (GDP) expanded by 6.0 percent in 2013, up from 2.2 percent growth in 2012, backed by a rise in oil and gas production and growth outside its dominant energy sector, President Ilham Aliyev said.

Aliyev told during a government meeting late on Thursday that inflation last year reached 2.4 percent. According to the state statistics committee, inflation in 2012 was 1.1 percent.

He added that total investment in the economy reached $28 billion in 2013, up from $25.8 billion in 2012, while the central bank's reserves were $50 billion last year, up from $41.5 billion a year earlier.

Source: Reuters

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