Since 2004, Azerbaijan has implemented the state program on socio-economic development of regions. At a January 30 meeting on the occasion of the third anniversary of execution of the State program of development of regions in 2014-2018 the role of government was highly appreciated. However, independent experts do not share this opinion.
Economist Rovshan Agayev said that more than 80% of the Gross Domestic Product (GDP) is generated in the capital and its surroundings (Sumgait and Absheron region). GDP per capita in the Absheron Peninsula exceeds 21,000 manat, while in the regions it is less than 2,000 manat.
Outside the city of Baku taxes of 828 million manat are collected - not more than 5% of the state budget revenue. And this year, the share of regions in tax revenues will fall even more, and is projected at 620 million manat, or 3% of the state budget revenues.
The economist also noted the low level of involvement of regions in the country's exports - 3%. ---- 08D
Economics
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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