Ilham Aliyev: 2015 to Be a Period of Testing

On Saturday, under the chairmanship of President Ilham Aliyev a meeting of the Cabinet of Ministers was held on the results of 2014 and the tasks for the current year.

According to the official report, Aliyev said the “successful development” of the economy, despite the drop in oil prices. Economic growth was 3%, while non-oil sector – 7%.

Inflation in 2014 was 1.4%, while incomes of the population increased by 4.8%.

In the economy there was invested 27 billion USD, of which 16 billion was from domestic sources.

Manat remained stable and the country’s foreign exchange reserves crossed 50 billion USD.

Aliyev also said the growth of the international authority of Azerbaijan. “Attempts to spoil the positive image of the country, to denigrate it at the international level were in vain, and no one can talk to us in the language of ultimatums.”

Referring to the Karabakh conflict, Aliyev said that the enemy several times undertook provocations on the front, but the Azerbaijani army successfully thwarted them.

Afterwards the Minister of Economy Shahin Mustafayev, the Deputy Prime Minister and Head of the State Committee for Refugees Ali Hasanov, the Head of the Central Bank Elman Rustamov and others spoke.

Speaking about the tasks for 2015, Aliyev said that this year will be “difficult for the global economy and it will be a period of testing in countries rich in natural resources.”

“However, there are sound economic policies, diversification and unity between the people and the government, which guarantees the success of our nation,” said the head of Azerbaijan.

He highlighted the development of the non-oil sector, granting preferential loans to businesses, improvement of the management and prevention of waste. At the same time, economic projects important for the country will be continued.

Aliyev also instructed to create industrial centers in every district, to continue the construction of the metallurgical complex, environmental issues and others.

Aliyev also praised the preparations for the European Games.

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