Azerbaijan, Baku, Feb. 3/ Trend /
The global financial crisis has not strongly impacted the Azerbaijani economy, the Azertaj state news agency quoted President Ilham Aliyev as saying in an interview with the CNBС TV station.
"The crisis did not strongly impact our economy," Aliyev said.
Aliyev added that Azerbaijan is gradually accelerating its integration into the world economy.
"Therefore, we have definite concerns, specifically regarding export potential," he said.
Export potential in the non-oil sector has reduced slightly in recent months. But on the whole, the financial and economic situation in the country is satisfactory, Aliyev said.
Aliyev added that the Azerbaijani economy grew 2.6 times in the past 5 years. It is much harder to maintain high growth rates now than earlier. The figure was 11 percent in 2008 and 25 percent in 2007.
"It is impossible to maintain this figure for a long period of time. But there is substantial economic growth. It is important to diversify the economy gradually, more and more, and to reduce dependence on oil prices and the energy factor. This was achieved due to economic-reform policies, diversification and support provided for entrepreneurship," Aliyev said.
"We succeeded in reducing dependence on the energy factor to a significant degree," he added.