“The head of state said at the time that the price of oil may drop at some time. The president assigned the task of developing a state program aimed at developing the non-oil sector. The government fulfilled the task, so the non-oil section began to be developed under the president’s leadership. Notice that the price of oil did drop. Although there were some setbacks, the Azerbaijan economy managed to remain stable.
The non-oil sector grew steadily, and today this sector accounts for over 60% of the GDP. There was a 3-4-fold decline in oil prices. Had the president not done it at the time, imagine what we would have had to go through. InshaAllah, in two years, in 2020, dependence on oil will be close to zero. We’re getting to it,” he said.
The deputy PM noted that President Ilham Aliyev has ensured Azerbaijan’s development for the past 14 years.
“By 2020, Azerbaijan will be among developing countries. Another strategic priority in the president’s activities is elimination of poverty. While the current poverty rate is 5%, the target is to reduce it to zero by 2020. InshaAllah, the poverty rate will drop to zero by 2020. There will be no one destitute left in Azerbaijan. We’re doing all that it takes to achieve it,” he said.
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