Deputy minister: Downshift caused by oil price slump is not fatal

Baku. 18 October. REPORT.AZ/ “Oil prices fall is not as critical for Azerbaijan as for other oil exporting countries”, Report informs, Deputy Minister of Energy Gulmammad Javadov said in his speech at the 7th International Forum on Energy for Sustainable Development.

According to him, this confidence is based on taken preventive measures, establishment of State Oil Fund, and works done towards development of non-oil sector: “We have currency reserves. One is true, the rapid economic processes pushed us to act earlier than we expected. Minister of Economy works on development of non-oil sector.”

“Azerbaijan will cope with this difficult times. We simply need to keep balance and work”, said deputy minister.