The year 2016 will be a success in Azerbaijan in terms of socio-economic development, said President Ilham Aliyev at a meeting with the public in Azerbaijan's Tovuz district.

"The world economy is covered by the ongoing crisis," he said. "The conclusion I came to participating in the world economic and security forums this year, is that the end of this crisis is not visible yet. Our region is experiencing an economic and, in some cases - the military and political crisis."

"Azerbaijan is also a space of stability, the country of development," noted the president.

He further expressed confidence in the success of the ongoing year.

"Although our revenues declined significantly, however, we need to work even more effectively," said President Aliyev. "I am confident that through the development of, in particular, agriculture, processing or industrial sectors we will achieve economic progress. I am confident that 2016 will be a successful one for our country."

"The budget will be amended and we will implement all the necessary social and investment projects with a minimum level of oil prices - $25," he added.

"All of the financial and economic mechanisms in Azerbaijan must rely on the experience of the leading countries of the world," he noted. "The development of the financial and economic sector will allow us to be independent of oil prices. That is our main task. The main role here is, of course, played by the development of the regions."

The president also recalled that back in 2004 he said the development of Azerbaijan should depend on the non-oil sector.

Source: Trend