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10:37 22 November
10:25 22 November
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PM: IBA former management’s criminal activity worsened the situation

Negative tendencies in the world economy negatively affected Azerbaijan’s balance of payment, said Azerbaijan’s Prime Minister Artur Rasizade, who presented at the plenary session of the Azerbaijani Parliament (Milli Majlis) a report on the activities of the Cabinet of Ministers in 2016.

According to him, criminal activity of former management of the International Bank of Azerbaijan worsened the situation.

 

“In order to assess the situation in the banking sector, Financial Markets Supervisory Authority and Financial Stability Council have been created upon the order of President Ilham Aliyev. The situation in the banking sector has been researched and economic situation stabilized. As a result of reasonable policy of the president Ilham Aliyev, negative impacts of the global economic problems have been reduced to minimum”, he added.  

 

The PM noted that GDP in non-oil sector made up 5% in 2016: “A socially oriented budget allowed increase of salaries and pensions last year”.

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