Expert: Azerbaijan forming as key state in South Caucasus

The measures taken for the social protection of the most vulnerable segments of the population allowed Azerbaijan to overcome the pandemic and the economic crisis, in general, more successfully than many neighboring countries, expert economist, professor at the Azerbaijan State University of Economics Elshad Mammadov told Report, commenting on the statements of EU Commissioner Oliver Varhelyi at a press conference in Baku.

The expert said that anti-crisis measures have been implemented in Azerbaijan in several areas, but ‘their orientation at social measures was the main positive result.’ Thus, the transparency observed in recent years in the field of social protection, a significant increase in payments in various areas served to protect the purchasing power, as well as the formation of social justice and stability in the country.

During his visit to Baku, the European commissioner noted that Azerbaijan achieved success in the fight against the COVID-19 pandemic and avoided serious economic consequences caused by the pandemic.

Varhelyi also noted that the prosperity of Azerbaijan depends on the prosperity of the entire South Caucasus region as a whole.

Mammadov noted that Azerbaijan has great potential for the growth of money supply and investments. At the same time, in the new geopolitical and economic realities in the region, the country is forming as a key state in the South Caucasus.

“Therefore, within the implementation of large transport and logistics corridors, as well as the new economic situation in the region, there is no doubt that favorable conditions have been created in our country for the implementation of rather ambitious economic projects. At the same time, the attention of foreign centers of power, as well as large companies towards Azerbaijan, is growing. I hope that in the coming years, we will see the deepening of this process,” he said.

Chichek Mammadova