POLITICS


President: Azerbaijan places a special emphasis on the equal distribution of energy revenues between current and the future generations

Baku, September 29, AZERTAC

“Azerbaijan places a special emphasis on the equal distribution of energy revenues between current and the future generations. To this end, the State Oil Fund was established in 1999. The assets of the Fund, which was 270 million USD at its commencement, currently exceeds the GDP of the country. Azerbaijan has achieved one of the highest income equality levels,” said President Ilham Aliyev as he made a speech in a video format at the meeting of Heads of State and Government on “Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond”.

“The military aggression of Armenia against Azerbaijan has led to the occupation of almost 20% of the territory of our country. As a result of the Armenian occupation more than 1 million Azerbaijanis became refugees and internally displaced persons. Azerbaijan has made tremendous stride to improving living and housing conditions of internally displaced persons. About 8 billion Azerbaijani manats amounting to nearly 5 billion USD has been allocated for addressing needs of this vulnerable group. Over 300,000 internally displaced persons were provided with free houses and apartments,” the head of state noted.

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