Azerbaijan Economy Since Independence; Independent View

Azerbaijan Economy Since Independence; Independent View

Azerbaijan Economy Since Independence; Independent View

The CESD report analyzes Azerbaijan Economy since independence which has been through economic crisis, stability, and rapid development. All these steps taken toward development have been remembered ever since for both their uniqueness as well as their conformity to economic realities: firstly, the recession (1992-1995) recovery (1996-1997), boom (1998-2008) and final slump (starting 2009). Thus, when evaluating the past 20 years of the economy of the Republic of Azerbaijan, it is of great importance to pay close attention to its growth and prosperity and draw conclusions about the developmental process itself. However, the overall picture is that it is hydrocarbon resources and its gradually increasing income that (played a profound role in helping Azerbaijan achieve economic stability). Economic growth rates have increased, the level of unemployment and inflation have decreased, and large amounts of foreign investments have flowed into the country, which have all contributed to the development of the economy. In recent years, however, one-sided development of the economy has begun to show its negative symptoms. As a result, the country’s economic growth rate in 2011, for the first time, decreased to its lowest level since 1996…Download Full Article Here

 

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