The sharp drop in oil prices on the world markets on March 9 makes it necessary to answer a lot of questions. What is expected for the Azerbaijani economy in the near future? How realistic is the budget crisis in 2020?In this article, we will first discuss the impact of cheapened oil prices on budget policy and fiscal sustainability.Before answering these questions, let us look at the role of oil revenues in the economy of Azerbaijan.Although the...
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In a significant diplomatic move, President Kassym-Jomart Tokayev of Kazakhstan embarked on an official visit to Armenia, marking a pivotal moment in the relationship between the two nations. The meeting between President Tokayev and Armenian Prime Minister Nikol Pashinyan resulted in the signing of a joint statement aimed at fostering cooperation and easing tensions that had simmered between the two countries.
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