The Azerbaijani manat’s devaluation: what are next steps?

The Azerbaijani manat’s devaluation: what are next steps? On December 21, the Central Bank of Azerbaijan abandoned its dollar peg, allowing Azerbaijani Manat (AZN) to nose-dive by almost a half. After the Central Bank relinquishing control of its exchange rate, the quoted exchange rate was announced 1.55 against US dollar. It is the Azerbaijani Manat’s weakest record over the last 20 years. Azerbaijan – an economy rich in energy in the post-Soviet era – has enjoyed... Read More

Vugar Bayramov’s analysis of the tension between Russia and Turkey

Vugar Bayramov’s analysis of the tension between Russia and Turkey Vugar Bayramov, chairman of Center for Economic and Social Development, gave interview to day.az news portal in Azerbaijan on December 9th, 2015. In his interview, Dr. Bayramov addresses to impacts of existing tension between Turkey and Russia not only on those indicated countries but also on Azerbaijan. Full interview in Russia is submitted below. Россия и Турция топят друг друга –... Read More

2016 State Budget of Azerbaijan was Approved

2016 State Budget of Azerbaijan was Approved President of Azerbaijan Ilham Aliyev has approved the state budget for 2016 on December 7th, 2015. Total government revenues will be 14.6 billion manats ($13.9 billion), down from 19.4 billion manats this year. Spending will be 16.3 billion manats, down from 21.1 billion manats in 2015. A deficit of 2.9 percent of GDP is expected, up from 2.6 percent of GDP in 2015. The oil sector is expected to decline to 53.5 percent of GDP next... Read More

Procedure for Foreign Donors to Obtain the Right for Provision of Grants in the Territory of the Republic of Azerbaijan Approved

Procedure for Foreign Donors to Obtain the Right for Provision of Grants in the Territory of the Republic of Azerbaijan Approved Cabinet of Ministries approved the ”Procedure for Foreign Donors to Obtain the Right for Provision of Grants in the Territory of the Republic of Azerbaijan” on December 4th, 2015. New guidelines for foreign donor organizations were approved in to register in Azerbaijan. Download English version of New Amendment on Foreign_Donors_-Grants_registration_in_Azerbaijan  Read More

Increase of CBA authorized capital aims reforming banking sector?

Increase of CBA authorized capital aims reforming banking sector? A decision to increase the authorized capital of the Central Bank of Azerbaijan is expected to raise its liquidity. President Ilham Aliyev issued on November 25 a decree to approve the amendments to the law ‘On the Central Bank of Azerbaijan’ for increasing the bank’s authorized capital from current 10 million manats to 500 million manats. Increase of the bank’s authorized capital is part of reforms... Read More

Manat consolidates?

Manat consolidates? “The European Central Bank has made a decision.” The European Central Bank has made a decision. Deposit rate on deposits was reduced from -0.2% to -0.3%. Oxu.Az reports that the statement came from the economic expert Vugar Bayramov. “Contrary to the expectations of foreign investors, the main bank of the European continent has announced its not very aggressive policy. The unexpected decision of the above-mentioned bank in the true sense of... Read More

CESD Research Paper: Evaluation and Modeling of Comparative Advantages in Agriculture in Azerbaijan

CESD Research Paper: Evaluation and Modeling of Comparative Advantages in Agriculture in Azerbaijan The short history of transition to the economic model is based on the modern principles of the market and assurance to the trade surplus that was formed by natural resources within external trade. During previous periods in Azerbaijan these ones were considered the main causes for the shape of production and export opportunities according to the principles of comparative advantage.... Read More

Azerbaijan and Iran after the Sanctions: The Pathways of Advanced Engagement and Confrontation

Azerbaijan and Iran after the Sanctions: The Pathways of Advanced Engagement and Confrontation by Ahmad Alili, Researcher, Center for Economic and Social Development (Azerbaijan) The nuclear deal reached by the E3/EU+3 and Iran has a great historic significance for the world; especially for the regions bordering with Iran. In this regard, Azerbaijan, also bordering with Iran, is awaiting crucial political and economic reorganisation at its southern borders. It is expected, after... Read More