Ilham Aliyev: Another priority of 2016 fulfilled – protection of foreign currency reserves
The protection of foreign currency reserves, which was one of priorities of Azerbaijan for 2016, has also been ensured, said the country’s President Ilham Aliyev.
The work done in Azerbaijan last year was given positive assessment by international financial organizations, the president said Tuesday, addressing a meeting of the Cabinet of Ministers, dedicated to the results of socioeconomic development of 2016 and objectives for the future, APA reported.
“Unlike other oil-producing countries, Azerbaijan made efficient use of the State Oil Fund,” President Aliyev said. “The Davos Economic Forum placed Azerbaijan’s economy in the 30th place for its competitiveness. Even in these years of crisis, more than 100,000 new jobs have been created.”
The president noted that $8 billion foreign and $3.7 domestic investment was made in Azerbaijan’s economy last year.
He said that 2016 will be recalled as a year of substantial economic reforms, adding that the decisions made the development of the non-oil sector will continue to be a priority.
The head of state also noted that the three- or four-fold drop in oil prices did result in some decrease in the GDP but the non-oil sector and agriculture saw 5% and 2.6% increase.
“These two particular figures allow us to say that we managed to come out of this thorny crisis with our head held high,” President Aliyev said, adding. “The work done so far and steps to be taken this year will add to this trend. There will be increased employment. I’m convinced that we will achieve all these goals.”
Related news releases
- 21.04.2017Azerbaijan to deploy 12,000 police during Islamic Solidarity Games
- 21.04.2017National Council postpones rally
- 20.04.2017Azerbaijan increasing fine for illegal child adoption
- 20.04.2017Draft code of conduct for Azerbaijani MPs to be discussed at parliament’s plenary session
- 20.04.2017U.S. considers restoring Pyongyang to terror sponsor list: Tillerson
- 19.04.2017Content of new draft code of conduct for Azerbaijani MPs revealed
- 19.04.2017Allahshukur Pashazade to visit Georgia
- 19.04.2017Azerbaijan increasing fines for interference with voting
- 19.04.2017Azerbaijani parliament to discuss new draft code of conduct for MPs
- 19.04.2017Azerbaijan to increase fines for slander and insult
- 18.04.2017Azerbaijan to double maximum fine term for crime
- 18.04.2017SOFAZ: If EITI puts end to dual standards, Azerbaijan may consider membership issue
- 17.04.2017Ilham Aliyev: There is good investment climate in Azerbaijan
- 17.04.2017Ilham Aliyev: Azerbaijan’s export potential will continue to grow
- 17.04.2017Ilham Aliyev: 2017 will be very successful for Azerbaijan
- 17.04.2017President Ilham Aliyev chairs republican conference of non-oil exporters
- 17.04.2017President Ilham Aliyev views Aran Regional Development Center in Yevlakh
- 16.04.2017President Ilham Aliyev visited statue of national leader Heydar Aliyev in Yevlakh
- 16.04.2017President Ilham Aliyev arrives in Yevlakh district
- 14.04.2017President Ilham Aliyev congratulates Orthodox Christian community
- 13.04.2017Ali Hasanov: Protesting reconstruction of Sovetsky is not the best example of religious devotion
- 13.04.2017Family members of Ordukhan Teymurkhan, who is living in Netherlands, appeal to Azerbaijani president
- 13.04.2017Azerbaijani president orders to establish special commission to investigate situation around Haji Javad Mosque
- 13.04.2017Trump: US 'not getting along with Russia at all'
- 11.04.2017Azerbaijan publicizes list of non-smoking places
- 11.04.2017Turkey deported Jalilov a few months before St. Petersburg terrorist attack
- 11.04.2017Azerbaijani oil price rises 1.5%
- 11.04.2017State Energy Service established in Nakhchivan.
- 10.04.2017Shortcomings revealed in activities of some Azerbaijani embassies abroad – report
- 10.04.2017Shortcomings revealed in activities of Azerbaijani Foreign Ministry – report
- 10.04.2017Ilham Aliyev: Azerbaijan achieved positive results in first quarter of 2017
- 10.04.2017Ilham Aliyev: 2017 will be successful year for Azerbaijan
- 10.04.2017Deputy PM calls for end to injustice against Azerbaijan
- 10.04.2017President Ilham Aliyev chairs Cabinet of Ministers meeting
- 10.04.2017Israeli envoy: Karabakh conflict settlement should be based on Minsk Group
- 08.04.2017Siyavush Novruzov: Relevant authorities investigating Ali Karimli’s migrant trade issue
- 07.04.2017Azerbaijani CEC warns political parties over failure to submit financial reports
- 07.04.2017Azerbaijani parliament approves annual report by National Coordinator for combating human trafficking
- 07.04.2017Baku police warn National Council over scheduled rally
- 06.04.2017President Ilham Aliyev: "Azerbaijan has never been as strong in history as it is now"
- 10.01.2017Ilham Aliyev: Azerbaijan enjoys great respect in Islamic world
- 10.01.2017President Ilham Aliyev pays condolence visit to Iranian embassy in Baku
- 11.01.2017President Ilham Aliyev arrives in Nakhchivan
- 10.01.2017Ilham Aliyev: Azerbaijan has found solution to crisis that resulted from oil price drop
- 10.01.2017Azerbaijan declares 2017 Year of Islamic Solidarity
- 09.01.2017UN: Cyprus reunification 'difficult but possible'