Caspian Energy Journal Caspian European Club
October 2018
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31
Thursday, 09 November 2017 11:15

Ilham Aliyev: Our financial standing is very stable and positive

Ilham Aliyev: Our financial standing is very stable and positive

“Our financial standing is very stable and positive. We have no problems”, President of Azerbaijan Ilham Aliyev said at the solemn ceremony dedicated to the production of the second billionth ton of oil in Azerbaijan.

According to him, ill-wishers are trying to discredit us in this issue as well and stating about Azerbaijan’s allegedly unfavorable financial standing.

President emphasized that “our financial standing can serve as an example for many countries. Within 9 months of this year we increased our currency reserves by $4.5bln, which will increase more by the end of the year.

“Our external debt makes 18% of our GDP. Many countries aspire to reach this indicator which sounds like a miracle”, Ilham Aliyev said. 

He added that the country’s economic success is assessed by Davos, the leading economic forum. Azerbaijan takes the 35th place on a global scale. “We have no financial problems or challenges. Big funds are going to be invested into the oil industry in the next year too. Of course the State Oil Company is also making profits itself. But the state is supporting and should support this company as it is our strategic asset and strategic property”, he said.  

Read 500 times