10:57, 1 September 2009 Page views 239 views

Vakhid Akhmedov about the volume of remittances into Azerbaijan

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“The global economic crisis has cut the volume of remittances into the country, – Vakhid Akhmedov, member of Azerbaijan Parliament commission on economic development, has declared. Growth of the gross national product worldwide gets 1.5 percent while in Azerbaijan this indicator comes nearer to 4 percent. And it is a good rate. Despite of great internal potential of the country, nevertheless, the number of Azerbaijanians working abroad is not small”. According to the deputy, the volume of remittances made by Azerbaijanians working abroad, particularly in Russia and Turkey, is estimated in billions: “If we take into consideration the level of wages in the country, it is а very big rate”.
According to the report of the Asian Development Bank, Azerbaijan is the least dependent on the volume of remittances from abroad and remunerations of Azerbaijanians, working in other countries, among the countries of the Southern Caucasus region. Following the results of 2008, remunerations and remittances from abroad to Azerbaijan have totaled $1554.3 million (3.4 percent of the gross national product), while in Georgia – $732.1 million (5.7 percent of the gross national product), and in Armenia – $1062.1 million (8.9 percent).


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