Azerbaijan: Aliyev Claims That Oil Makes Baku Crisis-Proof

Azerbaijani President Ilham Aliyev believes that a prudent strategy of oil sales has helped Azerbaijan avoid getting caught up in the global economic crisis.

"Even in the crisis year of 2009 we are not facing financial difficulties," Aliyev was quoted by the APA news agency as saying. "On the contrary, we are one of the unique countries of the world where even in 2009 the economy continued to grow."

While Azerbaijan's neighbors, Georgia and Armenia, have tightened their belts and continue to rely heavily on international aid, Azerbaijan, the region's energy powerhouse, boasted 6 percent economic growth during the first nine months of this year.

"We depend on no one," Aliyev said speaking at the offshore oil workers' settlement of Neft Daslari (Oil Rocks) in the Caspian Sea. "We are making a living at our own expense, within the means of our financial capacities, [and] with the values created by the people of Azerbaijan."