Reasonable policy is key to success of Azerbaijani economy

Recently, the European Bank for Reconstruction and Development has published a report which forecasts a recession in Europe in all the countries except for Azerbaijan. According to the report, the republic's economy will grow by 3.5% in 2014 and by 3% in 2015. A professor of the Western University, Fikret Sadikhov, the deputy director of the MSU information-analytical center, political scientist Alexander Karavaev and the director of the Georgian Business Insight, economic expert Irakli Lekvinadze talked to Vestnik Kavkaza aboout Azerbaijani economic success.Fikret Sadikhov believes that the success of Azerbaijan is connected to its political processes. "We have good relations with Europe and the EU, with its various programs, but we do not intend to be fully accountable and realize all conditions that they ask from their members and partners," he said.He said that the State Oil Fund is another reason of Azerbaijan's economic success.Karavaev believes that the favourable situation on the oil and gas market is one of the main reasons of Azerbaijan's economic success. With the help of the money accumulating in the Oil State Fund, the state is funding other industries as well which is highly beneficial for the country's economy, he said.Irakli Lekvinadze also noted the role of oil and gas reserves of Azerbaijan in its success.

Recently, the European Bank for Reconstruction and Development has published a report which forecasts a recession in Europe in all the countries except for Azerbaijan. According to the report, the republic's economy will grow by 3.5% in 2014 and by 3% in 2015. 

A professor of the Western University, Fikret Sadikhov, the deputy director of the MSU information-analytical center, political scientist Alexander Karavaev, and the director of Georgian Business Insight, economic expert Irakli Lekvinadze, talked to Vestnik Kavkaza about Azerbaijan's economic success.

Fikret Sadikhov believes that the success of Azerbaijan is connected to its political processes. "We have good relations with Europe and the EU, with its various programs, but we do not intend to be fully accountable and implement all the conditions that they ask from their members and partners," he said.

 

He said that the State Oil Fund is another reason for Azerbaijan's economic success.

 

Karavaev believes that the favourable situation on the oil and gas market is one of the main reasons for Azerbaijan's economic success. With the help of the money accumulating in the Oil State Fund the state is funding other industries as well, which is highly beneficial for the country's economy, he said.

 

Irakli Lekvinadze also noted the role of the oil and gas reserves of Azerbaijan in its success.