Austrian newspaper: Falling oil price does not pose serious threat to Azerbaijan`s economy

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Vienna, February 15, AZERTAC

Falling oil price does not pose a serious threat to Azerbaijan`s economy, Austrian daily “Tiroler Tageszeitung” newspaper quoted Azerbaijan`s Deputy Minister of Foreign Affairs Araz Azimov as saying.

The Deputy FM said the impact of financial crisis was minimalized in the country. Mr. Azimov recalled President Ilham Aliyev`s “We must forget oil” remark, and said the government now faces a task to increase the attention to other fields of economy, in particular to develop science and innovations area.

“The creation of industrial zones that manufacture export-oriented products using local resources, application of of tax incentives for entrepreneurs, elimination of unnecessary control mechanisms will contribute to the economic development,” he added.

The article also highlights the socio-economic situation in Azerbaijan, as well as the country`s position on regional political processes.

Elgun Niftaliyev

Special Correspondent

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