End of crisis can not be seen-Ilham Aliyev

The Azerbaijani President Ilham Aliyev does not conceal the horror of the country collapse after the fall of oil price and the devaluation of national currency – manat.

Visiting the Tovuz region, Aliyev announced:

“The crisis continues. At the beginning of the year after taking part in international conferences, I believe that the end of the crisis can not be foreseen,” reports “Armenpress” citing the Azerbaijani media.

Aliyev has admitted that they had been waiting for the crisis caused by the oil in 20 years. Now they are surprised over the decline in oil prices.

Aliyev has also announced that the estimated $ 50 price for an oil barrel is to reduce to $ 25.

However he ‘assured’ that with 3.5 reduced revenue they will be able to provide economic growth at the expense of the agricultural, industrial and recycling sectors.

There are job cuts and unemployment in the country, a large number of banks and companies have been closed in Azerbaijan.

The unprecedented devaluation of the manat engendered hard economic situation in the country which has naturally led to mass protests.