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Azerbaijan’s head: Our economy development to be always supported by oil & gas sector

26.12.2018,12:48


December 26, Fineko/abc.az. Azerbaijani President Ilham Aliyev called the basic conditions for the economic growth of the country.

President Aliyev said that the oil sector is subject to price fluctuations and is also subject to a certain increase or decrease in oil production.

"Azerbaijan is an active participant in the OPEC+ program and recently we’ve undertaken additional commitments to reduce production in order to show solidarity with all countries. Based on these factors, we always pay more attention to the non-oil economy and non-oil industry. For the first 11 months of the year, we see growth of more than 9% in the non-oil industry. This is the result of the program of industrialization, development of the non-oil sector, small and medium-sized businesses, creating favorable conditions for farmers. The future development of our economy will always be supported by the oil and gas sector, but sustainable development will be associated with industry, agriculture, and high technologies," the head of state said.