President: Getting loan for any project is not an issue for Azerbaijan from way back

Baku. 30 January. REPORT.AZ/ “I can tell that world’s reliable international economic institutions highly evaluate our work”.

Report informs, 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.

Azerbaijan President noted that Davos World Economic Forum is the world’s largest non-governmental economic institution, which brings together world leaders, political and economic elite, expressed positive opinion in its Azerbaijan report: “Azerbaijan rose by three scales and positioned itself 37th in competitiveness ranking. According to another indicator – development index among developing nations including ranking of about 80 developing countries, Azerbaijan shares first and second positions. This is assessment of our work by leading international institutions”.

The head of state noted that Azerbaijan doesn’t build its work to get high ratings: “However, once such opinion is expressed, this encourages us; at the same time, this is a signal for all financial institutions of the world. That’s why getting loan for any project is not an issue for Azerbaijan from way back. Even according to our policy, we are not much inclined to get foreign loans. We have to try further to tackle all works with internal resources. Because growth of foreign loans is not a positive development. To reduce our foreign debts, we have to be careful when getting foreign loans. We can use foreign loans only for projects of strategic importance for our country”.

President Ilham Aliyev believes that economic development in 2016 must be positively marked: “Especially, works carried out in regions kept their pace. Significant works have been done in regions last year”.