World Bank Urges Not to Invest Budget Money in Private Sector

"Azerbaijan should find options to create more favorable conditions for business activity, and the World Bank is ready to assist the country needed help for a timely response to these challenges,"  said the head of the local representation of the WB Larisa Leshchenko on today's presentation "Amendments a methodology for the development of the report Doing Business" for government agencies.

According to her, the challenges faced by the official Baku are not unique, as they are faced by all countries with natural resources, because the receipt of oil revenues through exports does not "have to wrestle with." "In Azerbaijan there are areas that will take time to solve existing problems, and our experts will offer their own versions of solutions for the development of private enterprise. In particular it is necessary to remove barriers to the development of the private sector and reduce dependence on oil revenues," she believes.

The head manager believes that in the last 4-5 years the private sector in Azerbaijan is funded mainly at the expense of public funds, but it is time to reform the system and to ensure not only self-financing, but also the financing of public projects at the expense of the private sector. --17D-