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Reforms in private sector to boost Azerbaijan's economy - official [UPDATE]

24 October 2019 [17:09] - TODAY.AZ

By Trend

The reforms on development of the private sector will ensure rapid growth of Azerbaijani economy, Tahir Mirkishili, member of the parliamentary committee on economic policy, industry and entrepreneurship, told Trend on Oct. 24.

The member of the parliamentary committee said that the private sector, which accounts for 85 percent of Azerbaijan’s GDP, must become the main driver of economic development.

"This is one of the main goals of economic reforms,” Mirkishili added. “This goal will ensure the rapid growth of the country's economy, the creation of new job places, the attraction of even bigger investments in the economy and the improvement of the well-being of people. Any force that impedes this is opposed to the country and the people."

The member of the parliamentary committee stressed that social reforms, transparency and the efforts being made to create a high trust environment in the field of taxes have opened up new opportunities in the country for the rapid development of the economy.

"At the same time, the president’s new instructions for more rapid economic development taking into account the huge reserves and the involvement of the professional personnel tied to the homeland in this sphere will ensure even bigger economic growth in the near future," Mirkishili stressed.

The member of the parliamentary committee also added that in the Doing Business 2020 rating, Azerbaijan again held high places among 190 countries, which testifies to the economic reforms in the country.

“The country's economic activity will increase, inflation will be kept at a low level and continuous improvement of living standards will be ensured in the coming years amid long-term reforms of the state in the socio-economic, financial, tax and other spheres,” he said.


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