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We should not link all our hopes for future development only to the oil sector, restricting ourselves to watching oil prices on the world market on a daily basis. We understand very well that oil will run out some day. For this reason, it is necessary to lay economic foundations in a way that will secure their independence from the oil factor. At the same time, it is necessary to be realistic. Azerbaijan is a small country and, if we take account of its great oil potential, the oil factor will play a leading role in the economy for a long time. However, we need to do everything possible to avoid “Dutch disease” and its consequences.

From an interview with Bloomberg TV
18.03.2004
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