President: 'Development of financial sector will allow us to be independent of oil prices'

Baku. 17 February. REPORT.AZ/ “2016 will be a success in Azerbaijan in terms of socio-economic development. The world economy is covered by the ongoing crisis. The conclusion I came to participating in the world economic and security forums this year, is that the end of this crisis is not visible yet. Our region is experiencing an economic and, in some cases - the military and political crisis. Azerbaijan is also a space of stability, the country of development”, Report informs, President Ilham Aliyev stated at the meeting with the public of Tovuz region.

Expressing confidence in success of the ongoing year, the President said: “Although our revenues declined significantly, however, we need to work even more effectively. I am confident that through the development of, in particular, agriculture, processing or industrial sectors we will achieve economic progress. I am confident that 2016 will be a successful one for our country. The budget will be amended, and we will implement all the necessary social and investment projects with a minimum level of oil prices - $ 25”.

The Head of State noted that “all of the financial and economic mechanisms in Azerbaijan must rely on the experience of the leading countries of the world. The development of the financial and economic sector will allow us to be independent of oil prices. That is our main task. The main role here, of course, plays the development of the regions. Still in 2004, I said that the development of our country should depend on the non-oil sector. So I am convinced that we will achieve this goal”.