Transfer of $ 48 billion from Azerbaijan into offshore zones is not possible without the control of supreme political authorities of the country, said in an interview to Objective TV the Doctor of Economic Sciences, chairman of the Center for Economic Research Gubad Ibadoglu.
The report of the British organization Tax Justice Network, called The Cost of Offshore Transfer, was written on the basis of the IMF, World Bank, local governments and other sources. This is a continuation of the global policy of transparency, launched by the site Wikileaks, the expert believes.
In his opinion, this is not the full financial data derived from Azerbaijan in 1994-2010, respectively. The information does not reflect data on the banks of Muslim countries, through which the money of local officials passes. The studied assets do not include such items as real estate abroad, gold, stocks, etc. In addition, the preamble of the study noted that questionable transfers were not mentioned. With this in mind, the amount of money taken out is one and a half times more than this.
The Center for Economic Research also conducted a study on the share of shadow economy in the local GDP. It turned out that only in 2010 of the 50 billion manat of the gross domestic product 38 billion manat (66.4%) remained outside the control of tax administration, despite the fact that Azerbaijan joined many conventions against corruption, and has a lot of laws of its own on the subject.
Offshore zones in the initial phase were seen as a springboard for investment inflows; money was siphoned there, and then companies were created there as a registered partner of public companies in Azerbaijan.
Only in the oil industry 26 such partners operate. In the field of air transport, gold mining industry, road transport there are also entities with the main share belonging to the family of the head of state, the head of the state airlines, the Minister of Transport, the Minister of Emergency Situations and so on. This means money is siphoned from Azerbaijan off shore and then returned in the guise of foreign investment, but it does not work objectively for the national economy, and only serves the enrichment of senior government and public officials.
All these acts are elements of corruption, and there is a serious threat to the rule of law and social justice, impeding economic development and threatening the market economy.
Ibadoglu believes that every Azerbaijan family has lost fromk $40,000 to $45,000 as a result of these illegal acts. If the money is spent on the development of non-oil sector, we will be able to build thousands of modern enterprises with advanced technology and business to provide jobs for millions of people. -17B-
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