President: Azerbaijan developing despite crises, opposing forces, falling oil prices
The steps to diversify and develop the non-oil sector helped Azerbaijan to live through the situation related to the drop in oil prices in the world with minimal loss, said Azerbaijani President Ilham Aliyev.
He was addressing a meeting dedicated to the economic issues and the works on preparing the 2016 state budget in the country.
"All the social programs are being realized, the social infrastructure projects are being implemented, and the security and social protection of people are provided."
"This is unpleasant and naturally, we should try to ensure the economic development in 2016," he said, adding that Azerbaijan's economy has developed rapidly in 2015.
"By tradition, we will discuss the results of nine months during the expanded government meeting next month," he said. "However, the results of the six months suggest that we will end this year with very high rates."
The GDP has increased by about 6 percent, while the non-oil economy has grown by over 9 percent, the inflation is at a very low level, the agriculture has increased by 7.3 percent, the non-oil industry has grown by 14 percent, said the president, adding that these are the achievements in the crisis year.
Aliyev added that it is very difficult to find such high indices on a global scale.
"And again, why? First, we have a strong political will. We have created our policy only by taking into account the interests of Azerbaijani people," said Aliyev, adding that the second reason is related to the thought-out economic policy and reforms carried out throughout many years.
"Today, these reforms are highly appreciated by international financial organizations," said the head of state. "I should note that this year, Fitch Ratings international rating agency confirmed Azerbaijan's stable rating again."
"Our rating is at the "BBB-" level. It is a very big achievement. Perhaps the general public doesn't know this, and it was presented in the form of short news in the press, whereas it is a very big achievement," said the head of state.