President Ilham Aliyev: Our economic and financial situation is one of the main contributors to our independence

Baku, July 11 (AzerTAc). “The financial situation in our country is very stable. I have repeatedly said that our economic and financial situation is one of the main contributors to our independence. Azerbaijan has ample financial resources. We have created these resources ourselves, no-one has ever helped us. We have achieved this thanks to the talent of the Azerbaijani people and thought-out policies,’ President Ilham Aliyev has told the meeting of the Cabinet of Ministers dedicated to the results of socioeconomic development in the first half of 2014 and objectives for the future. The head of state noted that in terms of foreign exchange reserves per capita, Azerbaijan was in one of the leading places in the world. “Our foreign exchange reserves exceed 54 billion. And this gives us confidence and allows us the opportunity to continue the implementation of large-scale infrastructure and social projects,” President Ilham Aliyev added: “I also want to emphasize that we are spending these funds very sparingly and investing them in the most important areas. At the same time, we should not allow a growth of investment by the state, as it may cause undesired phenomena and accelerate inflation. In fact, there is no need for that. I think that if we continue to develop at this pace in the coming years, that should be enough.”