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TBILISI: The Secret Of Azerbaijan's Economic Success

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  • TBILISI: The Secret Of Azerbaijan's Economic Success

    THE SECRET OF AZERBAIJAN'S ECONOMIC SUCCESS

    The Messenger
    Sept 2 2010
    Georgia

    Official circles in Azerbaijan are constantly highlighting the
    fact of the country's regional leadership. Azeri economic analyst
    Parhad Omarov stated that in 2010 Azerbaijan's economic success was
    acknowledged the world over. The IMF also acknowledged the Azeri
    central bank's effective anti-crisis policy. As a result, in 2009
    Azerbaijan achieved the largest economic growth in the world. The
    Azeri Central Bank believes that the country will continue to be a
    leader in economic growth in the south Caucasus region. Azerbaijani
    is the richest country in the South Caucasus in terms of currency
    reserves. But analysts think that Azerbaijan's economic success is
    mainly reliant on oil and gas and if the country did not have these
    reserves their economy would be less developed than either Armenia's
    or Georgia's. They conclude that Azerbaijan's regional leadership in
    the south Caucasus economy is based purely on the export of its oil
    and gas.




    From: A. Papazian
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