Azerbaijani President: We managed to save currency reserves of State Oil Fund

Baku. 30 January. REPORT.AZ/ Despite all obstacles, Azerbaijan economy developed and we achieved all major objectives. Main economic indicators are positive. Agriculture has risen by 2.6%, none-oil sector has grown 5-fold. Despite 3-4-fold drop in oil prices, we managed to ensure this development thanks to our works in previous year and reforms during last year”.

Report informs, Azerbaijani President Ilham Aliyev told at the conference dedicated to summary of third year implementation of State Program on social and economic development of regions in 2014-2018.

“Of course, ongoing economic and financial crisis in the world negatively affected our work. Bu I think that Azerbaijan managed to cope with difficult situation with minimum loss, comparing to other countries. More than 100,000 jobs have been created last year. This process continues since 2004 up to date.

We managed to save currency reserves of Oil Fund. I think this is remarkable development. Because majority of oil-rich countries have spent part of their currency reserves. But we tried and managed to save our financial reserves. Because we need to keep our currency reserves for today and tomorrow, and this is a factor, which bolsters our economic capabilities and economic independence”, the head of state told.