2018 to be­come year of eco­nomic devel­op­ment

Azer News - - Business - By Sara Is­rafil­bay­ova

2018 will go down in his­tory as the year of eco­nomic devel­op­ment for Azer­bai­jan. Vusal Gasimli, ex­ec­u­tive di­rec­tor of the Cen­ter for Anal­y­sis of Eco­nomic Re­forms and Com­mu­ni­ca­tion made the re­marks at a press con­fer­ence ded­i­cated to the re­sults of 2017.

Gasimli went on to say that as a re­sult of eco­nomic re­forms, held in the coun­try in 2017, the cri­sis is over, and the econ­omy has en­tered a new cy­cle of devel­op­ment.

“On one hand, anti-cri­sis mea­sures were car­ried out in 2017, and on the other hand, re­forms con­tin­ued to cre­ate a new eco­nomic model. The de­cline in GDP in Azer­bai­jan was ob­served only in 2016, and the dy­nam­ics of GDP growth re­cov­ered in 2017, and op­por­tu­ni­ties were cre­ated for new eco­nomic growth in 2018,” added the ex­ec­u­tive di­rec­tor.

Fur­ther, he stressed that agri­cul­tural pro­duc­tion in Azer­bai­jan will grow by 4 per­cent un­til the end of 2017, adding that this is a very good and im­por­tant in­di­ca­tor, con­sid­er­ing the pol­icy of di­ver­si­fy­ing Azer­bai­jan’s econ­omy and en­sur­ing the coun­try’s food se­cu­rity.

“Spe­cial mea­sures were taken to de­velop agri­cul­ture in 2017. On the one hand, much has been done to im­prove the in­fra­struc­ture, and on the other hand, state devel­op­ment pro­grams, cot­ton grow­ing, to­bacco grow­ing, and silk­worm breed­ing were adopted, all of which led to an in­crease in agri­cul­tural pro­duc­tion in 2017” , said Gasimli.

Pro­duc­tion of agri­cul­tural prod­ucts in the coun­try in­creased by 4.2 per­cent in Jan­uary-Novem­ber 2017 com­pared to the same pe­riod last year, ac­cord­ing to the State Sta­tis­tics Com­mit­tee. Ex­port of na­tional goods

Speak­ing of Az­ex­port.az state por­tal, Ex­ec­u­tive Di­rec­tor pointed out that it re­ceived ex­port or­ders worth $500 mil­lion in 2017, spec­i­fy­ing that more ac­cu­rate data will be avail­able in a few days.

“Cot­ton, knitwear, chicken eggs, poul­try meat and other prod­ucts were ex­ported via the Az­ex­port por­tal in 2017. More­over, en­trepreneurs can plan their pro­duc­tion in ad­vance for the next year, based on the al­ready re­ceived or­ders,” noted the ex­ec­u­tive di­rec­tor.

The ex­port pro­mo­tion por­tal of Azer­bai­jan - az­ex­port.az re­ceived or­ders on non-oil prod­ucts worth $444.6 mil­lion from 71 coun­tries dur­ing the eleven months of 2017.

Dur­ing 11 months non-oil prod­ucts worth $498 mil­lion were ex­ported to Rus­sia, $264 mil­lion to Tur­key, $133 mil­lion-to Switzer­land, $120 mil­lion-to Ge­or­gia and $52 mil­lion to Italy.

Az­ex­port.az was cre­ated in ac­cor­dance with the or­der "On cre­ation of a uni­fied data­base of goods pro­duced in Azer­bai­jan Repub­lic", signed on 21 Septem­ber 2016 by Pres­i­dent Il­ham Aliyev.

Mis­sion of Az­ex­port.az, man­aged by the Cen­ter for Anal­y­sis of Eco­nomic Re­forms and Com­mu­ni­ca­tion is to pro­vide in­for­ma­tion about prod­ucts of Azer­bai­jani ori­gin and be­com­ing the ben­e­fi­cial plat­form for their sales in for­eign and do­mes­tic mar­kets. Im­ple­men­ta­tion of Strate­gic Road Maps

Touch­ing upon the Strate­gic Road Maps, Gasimli stressed that the per­for­mance in­di­ca­tors of the mea­sures re­flected in Road Maps will be quite high in Azer­bai­jan by the end of 2017.

Gasimli noted that the re­sults of mon­i­tor­ing for the sec­ond half of 2017 will be pre­sented to the pub­lic in Fe­bru­ary-March 2018, but the high re­sults can al­ready been ex­pected.

“Mon­i­tor­ing of the im­ple­men­ta­tion of mea­sures re­flected in strate­gic road maps is car­ried out ev­ery six months. In 2017, we have al­ready pre­sented its re­sults for the first half of the year,” said Gasimli.

He added that the mon­i­tor­ing of re­sults of this year will be­gin in 2018.

“How­ever, I should note that my ob­ser­va­tions make it pos­si­ble to de­clare that there is high per­for­mance per­cent­age,” he ex­plained.

Pres­i­dent Il­ham Aliyev signed a de­cree in late 2016 en­dors­ing “Strate­gic Road Maps for the Na­tional Econ­omy and Main Eco­nomic Sec­tors”, which out­lined the short-, medium- and long-term goals for the devel­op­ment of the econ­omy and eleven key sec­tors.

The doc­u­ment com­prises con­sol­i­dated mea­sures aimed at min­i­miza­tion of neg­a­tive im­pacts of the global eco­nomic slow­down. It will al­low cre­ate a new devel­op­ment model bas­ing on short-term (un­til 2020), medium-term (un­til 2025) and long-term mea­sures (post 2025) to be im­ple­mented in dif­fer­ent spheres of econ­omy.

The strate­gic road maps up to 2025 and be­yond cover al­most all sec­tors of the econ­omy, in­clud­ing, devel­op­ment of the oil and gas in­dus­try, the man­u­fac­ture and pro­cess­ing of agri­cul­tural prod­ucts, the man­u­fac­ture of small and medium en­trepreneur­shiplevel con­sumer goods, devel­op­ment of heavy in­dus­try and ma­chin­ery, tourism, lo­gis­tics and trade, vo­ca­tional ed­u­ca­tion and train­ing, fi­nan­cial ser­vices, com­mu­ni­ca­tion and in­for­ma­tion tech­nolo­gies and util­i­ties. What about bank­ing sec­tor?

An­swer­ing the ques­tions of re­porters, Gasimli stated that Azer­bai­jan’s fi­nan­cial and bank­ing sec­tor will show pos­i­tive dy­nam­ics in 2018.

He said that the re­forms car­ried out in Azer­bai­jan’s fi­nan­cial and bank­ing sec­tor in 2017 con­di­tioned its grad­ual re­cov­ery.

“The sec­tor’s re­cov­ery is mainly ex­pected at the ex­pense of ac­tiv­ity of the Mort­gage and Credit Guar­an­tee Fund, which should lead to fa­cil­i­ta­tion in lend­ing,” Gasimli said. “This will also make it pos­si­ble to en­sure mo­bi­liza­tion of fi­nan­cial re­sources and chan­nel them to lend­ing to the coun­try’s econ­omy.”

Pres­i­dent Il­ham Aliyev signed a de­cree on De­cem­ber 26 amend­ing the De­cree on Es­tab­lish­ment of the Azer­bai­jan Mort­gage Fund OJSC, dated Oc­to­ber 27, 2015.

In ac­cor­dance with the de­cree, the Azer­bai­jan Mort­gage Fund OJSC and the Credit Guar­an­tee Fund merged.

Thus, the newly es­tab­lished Azer­bai­jan Mort­gage and Credit Guar­an­tee Fund is a le­gal suc­ces­sor of the Azer­bai­jan Mort­gage Fund OJSC and the Credit Guar­an­tee Fund, and all their rights and re­spon­si­bil­i­ties, as well as prop­erty are trans­ferred to the Azer­bai­jan Mort­gage and Credit Guar­an­tee Fund.

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