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26.01.2016 09:23

Ilham Aliyev: 'large-scale privatisation will be carried out in Azerbaijan'

'The current difficult economic situation in Azerbaijan has been caused by the crisis in the global economy,' said President Ilham Aliyev during his speech at the conference dedicated to the results of the second year of implementation of the State Program on socio-economic development of regions for 2014-2018.

'For years, we were going up. Now the global economy, for reasons beyond our control, is in decline. We, too, are part of the global economy. We do not insulate ourselves from the global community, the world economy. We are integrated, we conducted open market policies, liberal economic policies, so it affects us,' said Ilham Aliyev, as quoted by ANS TV.

Stressing that 2015 was difficult, Ilham Aliyev noted that the period was 'no more difficult than it was in the 1990s.'

The head of state expressed confidence that the country will overcome the crisis. 'We will steadily develop. We have to fulfil all the goals coming,' Ilham Aliyev said.

The conference was attended by ministers of finance, taxes, economy, chairman of the Central Bank, state and government officials and businessmen.

'Azerbaijan should implement large-scale privatisation. Because there are companies that do not work for 20 years, but for some reason are not submitted for privatisation,' also said Ilham Aliyev according to APA.

The president noted that there should be presented a business plan related to the future activities of each privatised enterprise: 'There should be considered a business plan, responsibility, commitment. Otherwise, someone buys a company, but again it will not work. We need a leading international consulting company since privatisation must be transparent, state interests should be met.'

President Ilham Aliyev said that in 2016 there will be carried out profound economic reforms.

'The fall in oil prices is 4 times, 100 per cent devaluation of the national currency in neighbouring countries made it impossible to maintain a stable exchange rate of the manat. But keep in mind that we live in a market economy. Social policy, profound economic reforms will enable us to successfully get out of this situation. 2016 should be, and will be the year of deep economic reforms. Additional orders and decrees to strengthen our economy will be signed,' said the president.

'In the past year, important steps were taken towards the creation of the Southern Gas Corridor, there was held a meeting of the Advisory Council. The Council had adopted a specific program and a joint declaration noting the special role of Azerbaijan in this sphere,' also said President Aliyev at the meeting.

He noted that the Southern Gas Corridor will create for Azerbaijan additional political, economic and financial capabilities. The Southern Gas Corridor for decades will provide for Azerbaijan economic benefits and the inflow of foreign currency. This year, additional measures will be held on the implementation of the Southern Gas Corridor.

The president noted that in 2015, Azerbaijan has proved itself a strong transit state: 'The roads from north to south, from east to west pass through Azerbaijan, which turns into an indispensable transport corridor. We conducted this work. Cargo from China, Central Asia, Korea, Europe began to pass through Azerbaijan. At the same time, cargo from Europe, Ukraine, China also began to pass through Azerbaijan. All of these opportunities have been created by us. If we had not carried out this work, could Azerbaijan become an important transit country? If we together with Turkey have not laid the foundation of the project TANAP, would it be possible today to talk about this project in respect of the energy security of Europe?'

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