IMF experts consider the economic situation is much better in Azerbaijan than in the other Southern Caucasus countries

The member of the delegation, parliamentarian, rector of the Architecture and Building University of Azerbaijan Culchohra Mammadova informed in her explanation to APA that separate discussions on the economy of Azerbaijan, Georgia and Armenia were held in the seminar. The IMF representative informed the participants of the seminar about the analysis of the macroeconomic situation of the republics and then the discussions were held: “The parliamentarians agreed to some questions, but did not agree to other questions. Besides the macroeconomic situation, questions on the budget, investments and tax policy were also discussed”.

According to the words of G.Mammadova, the work of the seminar was lively watched from the head office of IMF situated in Washington. It was clear once again in the result of the discussions that the economic situation is much better in Azerbaijan that in the other Southern Caucasus countries. The IMF representative in Baku Bazil Zavoyko gave large scientifically grounded analysis of the economy of Azerbaijan, spoke about great development perspectives of our economy and income of our economy for the present time and future.

As to the opinion of B.Zavoyko, the economy of Azerbaijan will develop with great speed in the near perspective. Existing inflation and its reasons were also the topic of discussion in the speech. Generally, such and opinion was reached that the economy of Azerbaijan develops in the right direction and will preserve this positive speed in the near future, too: “The international experts also noted that the economy of Azerbaijan must be approached carelessly. Not only oil sector, but non-oil sector should also be developed organically and dynamically. Oil will exhaust whenever, that is why all fields of the economy of the country must be normally developed. Forming the Oil Fund was stressed as one of the most positive steps in this direction. This allows to gather income obtained by the country today and to direct these means to the non-oil fields in the future”.

According to the words of G.Mammadova, it became clear from the speech of the IMF representative in Georgia that main income of this country is obtained from scrap metal sale, processing sugar beet purchased from Ukraine and the Baku-Tbilisi-Ceyhan oil pipeline at present.

As to the opinion of the representative of the fund in Armenia, main income of the economy of the country is obtained from raw material sale, polishing raw material brought from Russia and investments given to the budget by the foreign Diaspora. Armenia does not have strong resource for perspective development: “When viewing the economies of Georgia and Armenia it becomes evident that economic development in these countries almost equals to zero”.