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Azerbaijan to Adopt Oil Revenue Employment Strategy
Baku . (Interfax-Azerbaijan) - Azerbaijani President Ilham Aliyev will endorse a long-term strategy of employing oil revenues in the near future, Azerbaijani Economic Development Minister Farhad Aliyev told Interfax.
"A draft of the long-term strategy of employing Azerbaijani oil revenues designed by specialists from the Ministry of Economic Development and the National Oil Fund has already been cleared by relevant ministries and state agencies, and it is expected to be endorsed by the head of the state in the near future," Aliyev said.
The fundamental goals of the strategy designed for 25-30 years are facilitating the development of the private sector, particularly small and medium businesses, creating new jobs, reducing poverty, improving the social condition of the people, including refugees and internally displaced persons, and preserving the accumulated financial resources for future generations, the minister said.
Azerbaijan is among the leading CIS and East European countries in terms of investments per capita. The cumulative volume of investments in the country has reached $20 billion.
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