President Ilham Aliyev: “I am confident that in 2016 the economy of Azerbaijan will develop”

Baku. “Next year even more serious structural reforms will be held. Full transparency must be ensured in all fields, that there were no problems with our state budget revenues. We should work to eliminate dependence on oil prices,” said President Ilham Aliyev at a meeting with residents of Khazar district after the opening ceremony of the Cultural Center and Eco-park in Zira.


The President noted that 2016 will not be easy in economic terms: “We need to know this. But we should try to reduce the negative aspects to a minimum. I am confident that in 2016 the economy of Azerbaijan will develop; there will be no problems with the implementation of various social programs. We will carry out more serious social policy and try to attract more foreign investment, to avoid waste. Today, our incomes have been severely reduced. Nobody could expect that in 2015 the price of oil will fall three times. It means that our revenues decreased threefold. Therefore, in the present circumstances we can ensure our economic development solely through sound policies, effective work, I repeat, ongoing and upcoming reforms in the field of management. It was stressful for the economy. Of course, it has a huge negative impact. On the other hand, it should encourage us to even more efficient work. I believe that at the beginning of next year, we should revise the state budget. ”

President Ilham Aliyev stressed that Azerbaijan will develop confidently: “We are on the way of development, the path of independence, we conduct an independent policy. So sometimes we are exposed to undue pressure, but we follow a decent policy. Interests of the Azerbaijani people are above all for me, and I will continue to defend those interests. Feeling the support of the people, I do this work more confidently. ”