According to him, criminal activity of former management of the International Bank of Azerbaijan worsened the situation.
“In order to assess the situation in the banking sector, Financial Markets Supervisory Authority and Financial Stability Council have been created upon the order of President Ilham Aliyev. The situation in the banking sector has been researched and economic situation stabilized. As a result of reasonable policy of the president Ilham Aliyev, negative impacts of the global economic problems have been reduced to minimum”, he added.
The PM noted that GDP in non-oil sector made up 5% in 2016: “A socially oriented budget allowed increase of salaries and pensions last year”.