"I have said this many times, back in the early months of my presidency, that we must turn ‘black gold’ into human capital. This is it – “black gold” is human capital. We have used oil revenues for the well-being, health, comfort and safety of the people," said President Ilham Aliyev as he met with residents of Balakhani settlement.

The head of state said that today we are among the oil-rich countries in the world for this policy. 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. In oil-rich countries, there is sometimes unemployment. Poverty, social injustice and other problems are serious in the societies of those countries. But oil in Azerbaijan serves the welfare of the people and the development of our country.