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Economy of Azerbaijan
Transcript of Economy of Azerbaijan
the economy (banks, construction, fruit juice, etc.)
High interest rates for loans Tim McNaught Azerbaijan's
Economy GDP has more than doubled in the last 6 years
Large increase in state revenues due to high oil prices
Level of poverty has decreased in the last decade High level of corruption
Lack of transparency
High rate of shadow economy
Oil won't last forever High reliance on oil revenues
Risk of Dutch Disease
Large income gap betwen Baku and the regions Different
perspectives The Good The Bad The Ugly Agriculture
in Baku: 475 manat
in regions: 210 manat Average monthly salary WB Doing Business Report
- No.1 reformer in 2008 (#97 to #33)
- 2011 (#54).
- Ranked 178/183 countries for cross-border trade Trade Questions? email@example.com Indicators Azerbaijan's largest employer - 40% of workforce Large decline in production in 2010 Many problems in Agricultural sector - Obstacles to market entrance
- High levels of corruption
- Low farm gate prices
- Poor organization among farmers
- Modern farming equipment is not widely used
- Financing is available but not marketed well to farmers - Wheat production decreased by 22% in 2010 Growth rates to slow as recent oil boom peaks
Azerbaijan will remain an important energy transport hub for many years
Economy is still transitioning to free market
Agricultural sector remains underdeveloped Ranked 143/182 countries in
Corruption Perceptions Index