Experts doubt the effectiveness of the Council of Financial Stability

The experts are skeptical about the effectiveness of the newly Financial Stability Board established by the decree of President of Azerbaijan.

The Council included all the representatives of the financial and economic bloc of the government, said the analyst Samir Aliyev in an interview with Turan. In this sense, the council has become a structure parallel to the Cabinet.

At the same time, the expert expressed the opinion that perhaps the Council should ensure the coordination between the government agencies, the lack of which was observed recently. This was expressed in the difference between the positions of the Central Bank, Ministry of Finance, Ministry of Economy, and the Chamber of Control for the financial markets.

Since the Central Bank tries to limit lending in manats, for fear of inflation, which is contrary to the position of the Ministry of Economy and Finance Ministry, are striving to promote entrepreneurship, economic growth and fiscal revenues. However, according to Aliyev, Azerbaijan's economic problems are not limited to the achievement of financial stability.

Important and necessary structural and institutional reform, housing reform, the creation of a competitive environment, and others.

Expert economist, executive secretary of the Movement "Republican Alternative" Natig Jafarli also questioned the effectiveness capacity of the Council of Financial Stability. The Council includes the persons who brought the financial system to the current situation. Therefore, this advisory structure must be created from representatives of non-governmental sector, to conduct independent research and to propose alternative ways,  he said  in the an interview with  Turan. -06B--