Azerbaijan has its own model of economic equilibrium

Today, the Ministry of Economic Development (MED) of Azerbaijan was presented "General equilibrium models of Azerbaijan: the work done, results and prospects."

As deputy minister told reporters Sevinc Hasanova for further successful development of the local economy needs advanced forecasting techniques and the use of general equilibrium models (AZMOD).

Leadership of the country has invested heavily in investment, including foreign, projects, so calibrated steps in this field also requires a clear modeling and forecasting.

According to the official, AZMOD is an important tool to analyze the situation and forecast on the draft concept of the "Azerbaijan - 2020: A Look into the Future", in which the gross domestic product (GDP) in 8 years, presumably double to more than 100 billion manats.

The promising model is to cover agriculture, hunting, fishing and forestry, power sector, gas and water, transport, postal services and trade, health care, hospitality and so on.

AZMOD can serve as a guide for politicians, who can assess the impact of various policy measures as the economy in general, and on its various areas. In the analysis of trade policy, this model is also indispensable. - 17D-