President Ilham Aliyev: It is necessary to try to maximize domestic demand through domestic production

All decisions made by the state should be enforced without exception and without any privileges, said President of the Republic of Azerbaijan Ilham Aliyev when receiving Minister of Economy Mikayil Jabbarov.

“It is true that the oil sector remains fundamental to our economy. However, other sectors, the development of the non-oil economy are a priority. I believe that it is necessary to increase the production of exportable products, to continue the certification process in business entities so that our products are competitive both in the domestic and foreign markets. Of course, domestic consumption should be stimulated by domestic production. It is worth noting that it is becoming increasingly difficult to access foreign markets with every passing year, as many countries are pursuing import substitution policies. Therefore, we must both look for new markets and increase the competitiveness of our products,” said the head of state.

At the same time, it is necessary to try to maximize domestic demand through domestic production, he said.

“As for the self-sufficiency index, there should be more accurate statistics in this area because different government agencies submit different numbers to me. Therefore, I am instructing you to do that. Analyze the figures of all government agencies and report to me on the real state of affairs – what is our self-sufficiency index in basic consumer goods so that we could forecast our policy more accurately, including the allocation of funds and loans from the Entrepreneurship Development Fund to the areas that are still dependent on imports. In addition, when analyzing our exports and self-sufficiency opportunities, it is necessary to take into account the percentage of the external component in the goods produced in Azerbaijan because sometimes the share of imported raw materials is high. The Ministry of Economy is working hard on these areas, so carry on. I believe that if we can correctly build all this work – and I have no doubt that we will – then we will pass this difficult test with dignity,” said President Ilham Aliyev.