Azerbaijan takes measures to reduce oil dependence | Eurasia Diary -

8 July, Wednesday

Azerbaijan takes measures to reduce oil dependence

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"It is gratifying to see that certain indicators on the non-oil base deficit have been approved in the decree signed by the President of Azerbaijan Ilham Aliyev in connection with the application of the new budget rule", reports citing Report News Agency.

Finance Minister Samir Sharifov said at a meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship today.

According to him, these indicators were implemented very quickly in 2019 against the target: "Figures show 26.6 % against 31.1 %. It shows that practical measures are being taken to reduce our dependence on the oil sector gradually. The budget rule also serves these purposes."

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