Today, we are among the oil-rich countries in the world for this policy.

Axar.az reports that, the statement came from President Ilham Aliyev during a meeting with residents of Balakhani settlement.

"Leading international financial institutions also note that oil in Azerbaijan serves to improve people's well-being, because now the reduction of poverty and unemployment is a clear example of this. Unemployment sometimes occurs in oil-rich countries. Poverty, social injustice and other problems in their societies. But in Azerbaijan, oil serves the welfare of the people and the development of our country," Aliyev said.