Assessment of Effect of Declining Oil Prices on Azerbaijan Economy

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy The main goal of the study is to assess how oil price decline in the world market will potentially impact Azerbaijani Economy. The paper specifically looks how last changes in the world market will effect on both revenue and expenditure sides of the state budget. The study also examines “side impact” and “domino effects” of low oil prices. As an oil exporter country Azerbaijan might face the effects... Read More

Azerbaijan increases grain fund’s reserves to ensure food security

Azerbaijan increases grain fund’s reserves to ensure food security Recently, the Azerbaijani Cabinet of Ministers decided to increase the volume of its grain reserves in the State Grain Fund from 500,000 metric tons to 750,000 metric tons. The decision was made as part of efforts to prevent direct or indirect impacts on the population’s grain supply, which could be in trouble by a long-lasting drought in the country and/or climate changes in neighboring countries that... Read More

Oil GDP decreased by 3.4 % in Azerbaijan

Oil GDP decreased by 3.4 % in Azerbaijan Total GDP increased by 2.2 % thanks to non-oil growth Growth Domestic Production (GDP) reached 53.7 billion manat ($ 68.9 billion US) in the first eleven months of 2014 in Azerbaijan- State Statistics Committee reports. GDP increased by 2.2% compared to the same period of previous year. GDP per capita was 5710.7 manat ( 7 281.3 US dollars) in the indicated period. Non-oil sector increased by 6.5% compared to the corresponding period of... Read More

Visa- Free Europe Quarterly Report

Visa- Free Europe Quarterly Report Visa-free Europe Coalition where CESD- Center for Economic and Social Development is part, distributed its quarterly report which covers the period between November and mid-December, 2014. Download Full Report Here  Read More

Does decline of oil price cause Azerbaijani national currency depreciation?

Does decline of oil price cause Azerbaijani national currency depreciation? Azerbaijani national currency, manat, will keep a stable rate against US dollar in the short term, the chairman of the Center for Economic and Social Development (CESD), well-know economist Vugar Bayramov said. In the medium and long term, then, according to Bayramov, here is difficult to predict manat’s rate since It will depend on the world oil market. “Despite the increasing of dollar’s pressure... Read More

25 Years of Transition: Post-Communist Europe and the IMF

25 Years of Transition: Post-Communist Europe and the IMF The past 25 years have seen a dramatic transformation in Europe’s former communist countries, resulting in their reintegration into the global economy, and, in most cases, major improvements in living standards. But the task of building full market economies has been difficult and protracted. Liberalization of trade and prices came quickly, but institutional reforms—in areas such as governance, competition policy, labor... Read More

The Boom and Bust of Baku Real Estate Market: Comparative Analysis

The Boom and Bust of Baku Real Estate Market: Comparative Analysis Buying a house is without a doubt one of the most important decisions that you will make in your life. Besides turning a house into a home, real estate is also an alluring investment. With the growing salaries in Azerbaijan in recent years, many Azerbaijanis have started investing in real estate abroad. The euro crisis has made investing in real estate in Europe an attractive one. The 2008 world financial crisis... Read More

Azerbaijan’s Foreign Debt Increased by 5.1 % in 2014

Azerbaijan’s Foreign Debt Increased by 5.1 % in 2014 The foreign state debts of Azerbaijan made 6,380 billion dollars (5,005 billion manat) and the ratio of the foreign state debts on the Gross Domestic Product (GDP) was 8.5 percent for October 1, 2014. The country’s foreign debt increased by 5.1 % in 2014. The total debt was 4,753 billion manat and share of the debt in GDP was 8.2 % in January, 01, 2014. Ministry of Finance reports that 7.4% of the borrowings have been... Read More

SOCAR reacts to falling energy prices by cutting oil export

SOCAR reacts to falling energy prices by cutting oil export State Oil Company of Azerbaijan (SOCAR) reduced export of petroleum products in November 2014 by 41.5% compared to the previous month. According to the SOCAR, overall export of Azeri oil products totaled 77,851 tons in November versus 133,067 tons in October, 183,931 tons in September, 280,705 tons in July (the best level for 2014) and 21,983 tons in April (the worst monthly index). This November the export of oil products... Read More