Evaluation of macroeconomic condition in Azerbaijan in 2010 ANALYTICAL REVIEW

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This analytical review had been prepared by the experts of the National Budget Group with the aim to evaluate macroeconomic activity in Azerbaijan in 2010. Basic macroeconomic indicators (GDP, employment, income of the population, foreign trade, foreign investments, poverty, etc.) of Azerbaijan in the recent 5 years (2006 – 2010 years) were analyzed in the presented review in the background of global economic processes observed in the world. Dependence of fiscal parameters on oil revenues, state investments and infrastructure expenditures, social policy (education, healthcare, social protection), taxation and administrative reforms, main parameters of monetary policy (money supply and inflation rates, real effective currency rate variations, credits, interest rates) and state of banking sector during the analyzed period were subjects of research in this paper.
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Last Updated ( Tuesday, 26 June 2012 08:18 )

Economic Development Models in Azerbaijan

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The principle of Permanent Oil Incomes is reflected in the “strategy of long-term use of oil incomes” adopted by President Ilham Aliyev of the Azerbaijan Republic in 2004. Nevertheless, the socioeconomic modeling based on this principle has not been designed yet. It still remains an issue to rationalize the proportion of oil-gas incomes estimated at 400 billion US dollars for consumption and saving purposes across years. What emerges as a result is that supply and demand do not balance each other. Along with the stable economic development and macro-level stability, there still exists “Twin deficits” problem in Azerbaijan.
On the one hand, non-oil foreign trade deficit has been swelling, which means that certain portion of oil incomes are indirectly spent on covering the deficit of non-oil foreign trade deficit and financing foreign goods and services. In its turn, it slows down the competitiveness potential of the domestic economy.

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Last Updated ( Tuesday, 17 April 2012 09:00 )







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