Baku, January 1, AZERTAC
"2016 has been one of the most challenging years for the national economy. Azerbaijan is an integral part of the global economy. The global economic recession continued in 2016. In addition, in the aftermath of the oil prices plummeting three- to fourfold on global markets, our revenues have dramatically declined. Under such circumstances, we could find a way out of this predicament only by conducting profound reforms, and we achieved that," President Ilham Aliyev said in his congratulatory message to the people of Azerbaijan on the occasion of the Day of Solidarity of World Azerbaijanis and New Year.
President Ilham Aliyev said: "Azerbaijan has managed to maintain its economic sustainability and ensured economic stability. The drastic and comprehensive economic reforms carried out this year have opened up great horizons and prospects for our future development."
"I would also like to mention that despite all the difficulties, our country’s non-oil industry has grown by 5 per cent and agriculture by more than 2 per cent this year. We have managed to safeguard our currency reserves this year. This is also a very important issue because our economic potential and financial resources precondition both economic and political independence," the head of state added.