Aliyev warns of fallout from high oil prices
BAKU – President Ilham Aliyev has said rising world crude prices are not a positive trend though oil is a key source of Azerbaijan’s revenues.
"The increase in oil prices leads to a higher cost of all imported goods," President Aliyev said Tuesday at a conference in Baku devoted to the government’s ongoing regional development program.
"A barrel of oil exceeding $100 could cause big problems, including those for Azerbaijan, because we are still dependent on imports to some extent. The increase in oil prices will cause the cost of all other commodities to rise, and those goods will be more expensive when they are imported to Azerbaijan. Therefore, we have to fully ensure our food safety," Aliyev said.
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