Today Azerbaijani President Ilham Aliyev delivered a speech at the New Energy Equation at the World Economic Forum in Davos. The President stressed that the economy of the republic is stable and resistant. The social package in the budget is being maintained, despite the drop in oil prices.
According to him, it is difficult to expect that oil prices will be even lower than the current level, but a possible negative situation won't be a surprise for Azerbaijan. The country has significant financial reserves accumulated in the State Oil Fund, which allow the state to compensate for lost income, Trend cites Ilham Aliyev as saying.
