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Ilham Aliyev: Oil can bring both benefits and problems

Ilham Aliyev: Oil can bring both benefits and problems

“Generally, non oil-rich countries think that if we have oil, we would use it. But oil can bring both benefits and problems, and give a headache.”
President of Azerbaijan Ilham Aliyev said in his speech at the 22nd World Petroleum Congress in Istanbul.
“It depends on how you use the oil. We are always trying to turn oil revenues into human capital and use them transparently. The Oil Fund of Azerbaijan is one of the most transparent oil funds in the world and has been awarded the UN Prize. That is to say, the first condition is a complete transparency. The public is informed about the funds accumulated in the Oil Fund, “he added.