Baku, January 12, AZERTAC
“Azerbaijan, as is the case with other oil-rich countries, suffered the repercussions of the falling oil prices. But if we look at the steps taken by all oil-exporting countries, we can see that Azerbaijan is among the countries that have successfully overcome this crisis. There are a number of other oil-rich countries which, like us, managed to successfully overcome this situation,” said President Ilham Aliyev at the meeting of the Cabinet of Ministers dedicated to the results of socioeconomic development of 2016 and objectives for the future.
“Oil prices have fallen three- to fourfold. This means that oil, which is our main source of income, has brought us three to four times less profit. Of course, we had to find a way out of this crisis, and I think we did find it. Despite all the difficulties and losses, we have managed to maintain economic stability and get out of this difficult situation with dignity.”