PwC Issues Report on CEO Survey 2016 for Azerbaijan

On April 26, PwC conducted a presentation of the survey of the managers of major companies of Azerbaijan CEO Survey 2016.

The leaders of 32 companies representing 10 sectors of the economy (oil and gas, telecommunications, finance, retail, etc.) responded to 40 questions about the trends in the global economy and their impact on their business, the state of the business environment, and the mood of business circles. "The purpose of the first survey, which will become a tradition, is to identify patterns in the global economy and to set benchmarks for policy makers to address them," said the managing partner of PwC Movlana Pashayev.

The leaders of the Supervisory Board of companies in Azerbaijan believe that the most pressing business problems are the presence of the public debt, the variability of the national currency and political uncertainty.

"Three-quarters of respondents, among whom were representatives of state-run and foreign companies, stressed that today there are more threats to their business than three years ago. At the same time, about a quarter of the companies surveyed believe that the increase in the pace of global economic growth can be expected over the next 12 months," Pashayev said.

The survey provides a measure of the effectiveness of government actions. Azerbaijani entrepreneurs consider important reforms in the field of taxation, allocation of public revenues and improvement of qualification.

The survey was conducted in September-November 2015. Since that time, the country has been undergoing serious political and economic processes that impact on business. So this year we can expect a different picture, according to PwC.

The document will be submitted to the Government and the Assistant President of Azerbaijan on Reforms. This survey is part of the ongoing global PwC CEO Survey, the results of which are presented at the annual economic forum in Davos.   --08C-