International Conference "Evaluation of the comparative superiority and simulate the non-oil sector " was held in Baku on Thursday.
The conference participants discussed ways of priority directions of economic development until 2020 with the aim of diversification.
Expert at the Center for Economic and Social Development (CESD) Zia Alili presented the results of studies to assess sectoral economic policy from several angles in the light of economic modeling concept "Azerbaijan -2020: A look at the future." In the preparation of the document have been used views of local and foreign economists.
According to the calculations CESD, to achieve the two-fold increase of the Gross Domestic Product by 2020 (107.8 billion manat) of the country's economy should grow at an annual level of 9.05 %. In this case, the main burden must take the non-oil economy. Given the fact that the weight of the oil and gas sector over the years will decline , the share of non-oil sector of the economy in exports growth should reach an average of 26.7 % per year and by 2020, up from $ 1.5 billion to $ 10.2 billion.
To achieve this task, you first need to eliminate the underground economy, which share the official data is 9%. Independent experts estimate the figure at 33 %. Even with the official figures, the implementation of policies to address the underground economy will achieve the doubling of GDP, with an annual growth of 7.9%.
Constraining economic growth CESD experts also believe the high bank interest on loans.
The priorities of the non-oil economy to a diverse workforce and economic structure CESD called agriculture, information technology, industry and tourism . It is proposed to reduce subsidies of agriculture, to simplify the visa regime for the growth of domestic tourism, reduce state involvement in the telecommunications sector, to encourage the transition from raw material to finished product.
Chairman of the Economic Policy Committee of the Milli Majlis Ziyad Samadzadeh welcomed the results of the study and agreed with some of his conclusions.
A report on the experience of Kazakhstan to achieve development in the non-oil sector, the representative of the country's Finance Association Madat Sartbayev.
The conference addressed the German Ambassador to Azerbaijan Heidrun Tempel (Heidrun Tempel), representatives of ministries and departments.
The conference was organized by the CESD and the Friedrich Ebert Foundation. -08C-
Economics
-
President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
-
Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
-
Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
-
The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
Leave a review