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Ambassador of the Federal Republic of Germany visited to the Economic Research Center’s office

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On January 17 2017,  Ambassador of the Federal Republic of Germany, Mr. Michael Kindsgrab visited to the office of the Economic Research Center (ERC) . The senior analyst at ERC,  Dr. Gubad Ibadoghlu  briefly informed  to Germany  Ambassador about the  program activities of the Center and he introduced the policy papers and recommendations published by ERC. 

The current economic situation and recently adopted road maps was discussed during the meeting. Dr. Ibadoghlu presented the  ERC’s recommendation  of urgent measures  taken  for stabilization of  national economy.  Mr. Ambassador Kindsgrab , emphasized the importance of developing non-oil sector and  the diversification of the economy.

Then the  recently  changes  to the Rules on Registration of Grant Agreements (Decisions) of the Republic of Azerbaijan   by Cabinet of Ministers and its impact to  the situation in the civil society sector  were discussed. As a coordinator of NGO Coalition for improving transparency in the Extractive Industries Mr. Ibadoghlu  exchanged views on Coalition activities before next board  meeting  at international level on March 8-9 in Bogota. 

End of the bilateral meeting, ERC’s chairman, Galib Bayramov   presented ERC's history, mission and objectives and certificates reflecting the information board, he  informed to Ambassador about  the successful program  and  activities of ERC.

Last Updated ( Friday, 20 January 2017 10:05 )

State Budget for 2017 is the worst in 10 years

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The draft state budget for 2017 shows that this is one of the worst budget in the past 10 years, said on Friday, the famous economist Gubad Ibadoglu  during public discussions in the draft budget public hearings for the coming year.Speaking specifically about the state budget, the expert said that it is about a little more than $ 9 billion.  Ibadoglu said that the biggest budget was in 2013 - $ 25 billion. "Today's figures show that Azerbaijan is not developed, and steps back,"  he said. Citing specific figures, the economist pointed out that 38% of the budget will be formed at the expense of oil revenues, 45% - taxes, 14% - from the Customs and 3% - other spheres.
"Analysis of the last 10 years shows the inefficient use of budget funds. Over the years 24.4 billion manats,  mainly construction. Unproductive expenditure of investment is now putting pressure on the state budget, which does not get the return of finances invested for 10 years," said Ibadoglu. Referring to the increased cost of debt servicing, the economist said that the budget for 2017, this item of expenditure is 12.4%.
"Those who took a loan, could not spend them effectively. As a result, the burden of debt repayment falls on the state budget, which is replenished at the expense of the taxpayers, what are you and I,"  he said.
Concerning  specific proposals to the government, Ibadoglu said that we should publish a monthly report on the execution of the state budget, to conduct a classification of programs financed from the state budget, reduce operational expenses, including expenses for administrative staff. 


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The Economic Research Center has been awarded as a one of best think tank in region

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Economic Research Center (ERC)  has been awarded as a one of best think tank in region on the nomination of domestic economic policy during the Regional Think Tank Summit in Astana Economic Forum by initiative “The Economist”, Ministry of Economy of Kazakhstan and The Institute for Economic Research in Kazakhstan on the based of report on 2015 Global Go To Think Tank Index Report by the  Think Tanks and Civil Societies Program  at the University of Pennsylvania, USA.

Last Updated ( Tuesday, 20 December 2016 12:23 )

Independent NGOs to create a forum of open government

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By the end of the year will be announced the establishment of the Forum of open government, formed of representatives of independent civil society, said in an interview to «Çətin sual» of Turan agency Gubad Ibadoglu, the was head of the movement for democracy and development. According to him, in the current platforms of dialogue of open government partnership the "real representatives of civil society are not represented." The platform cannot be called open, he said. "It was established in September, but many NGOs dealing with this issue remain overboard," he said. It creates the impression that the government wants to engage in dialogue with itself.
"We, the representatives of the NGOs hold independent line and are waiting, and have given the government time to correctly assess the situation and make the right decisions. Unfortunately, this did not happen," he said. According to Ibadoglu, the government thinks that with such a composition it can achieve international legitimacy and, therefore, He continued the old policy. The work on the new charter of the Forum joined by more than 20 NGOs representing different spheres. "In a short time will be established forum of open government, formed of truly independent civil society," he said.

Last Updated ( Tuesday, 20 December 2016 12:25 )

Ruling Elite Wants to Cover Its Losses Due to Poor Social Groups - Gubad Ibadoglu

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If Azerbaijan really cuts its daily oil production by 35 thousand barrels, this means that at current prices, every day we will receive 1,925,000 dollars less, 57.5 million dollars less per month, according to the economist Gubad Ibadoglu.

In his profile on the social network Facebook the economist reminded that Azerbaijan at the Vienna meeting of oil-producing countries agreed to cut daily production by 35 thousand barrels, in other words 5.5% of the current production. He noted that Azerbaijan is risking it.

“If one considers that 47 million USD of the 57.5 million USD is pure profit, the exchange loss in connection with this decision will be half of non-oil exports. In this case, the reduction of foreign exchange earnings can activate factors of devaluation of the manat,” he said.

According to him, if after the countries’ decision on the reduction of oil production world oil prices increase by $ 10 or more, Azerbaijan may have a greater benefit from higher prices than from the loss in the amount.

“Otherwise, Azerbaijan will not be able to compensate for the income from the reduction of extraction. It is risky for the economy of such countries as Azerbaijan, where the national currency is dependent on oil revenues,” Ibadoglu said.

Besides referring to loans from the Asian Development Bank, the economist said the ruling elite and their families, who took full advantage of the development of the economy, want to cover their losses from the reduction of the economy at the expense of the middle class and the poor.

“That seemed not enough to them, and the government undertook heavy indebtedness and made future generations responsible for its return,” he said.

Ibadoglu said that after the increase in the volume of cooperation with the Asian Development Bank, Azerbaijan, after China and India, became the third major partner of the bank. According to him, this is due to the fact that in contrast to the International Monetary Fund or the World Bank, or the European Bank for Reconstruction and Development, the Asian Development Bank provides loans without any preconditions and without requirements of a reform package.

“If Azerbaijan really has become a donor country, then for what reason do we attract loans to meet domestic spending and deficit? The main objective of the national economy is to attract not loans, but direct investments into the non-oil sector, as investments do not create debts, but rather create value added, thus serving the development of the economy,” he said

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    In his newsletter, the events ( round tables, seminars, trainings, etc), publications, press releases, including the information on business trips to abroad realized within the framework of projects by the Economic Research Center are covered in both languages 

( Azerbaijan and English).


Program and financial report of  Economic Research Center covering activities in 2012