Heydar Babayev: "The global financial crisis will not affect Azerbaijan's economy"

He said sufficient financial reserves and oil and gas resources will help overcome the consequences of possible influence of the crisis on the Azerbaijani economy.

Azerbaijani Minister of Economic Development Heydar Babayev noted in turn that definite influence is felt in the banking sector of Azerbaijan due to the sharp rise in the cost of funds, raised from outside. "Yet our banks are used to such resources and they have never had cheap financial sources", said Babayev.

"I also consider that the global financial crisis will not affect the Azerbaijani economy at all, while those apparent events are more psychological than financial", added the Minister.

/Day.Az/