Azerbaijan may improve positions in world rankings

Tue 05 Feb 2019 17:21 GMT | 21:21 Local Time

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Azerbaijan may further improve its positions in the world rankings, including the Doing Business report, thanks to the reforms carried out this year, Vusal Gasimli, executive director of the Azerbaijani Center for Economic Reforms Analysis and Communications, said.

According to Trend, Gasimli made the remarks at the press conference in Baku on Feb. 5.

He stressed three stages of Azerbaijan’s economic development, adding that all efforts were aimed at stabilizing the economy in 2016-2017.

“The second stage is the end of 2017 – 2018,” he added. "Our main task, as it was indicated in the strategic roadmaps, was to strengthen the economy."

He said that the third stage, covering 2019-2020, is a period when the economy balances itself.

“Everything was achieved thanks to the reforms carried out under the president’s leadership,” Gasimli said.

He further stressed the importance of private sector development for increasing the flow of investments into the country.

Gasimli said that one of the most important goals is to pass to a floating exchange rate by 2020.

"Another important task is the development of human capital,” he said. “Human capital worldwide is 64 percent, while in Azerbaijan - 14 percent."

“One of Azerbaijan’s main tasks is the transformation of natural resources into human capital,” he added. “Human capital is based on education and health care.”

“It is necessary to pass to a model of development of economic competence, that is, to value the competence more than education itself,” Gasimli said. “It is necessary to ensure the health care of future generations.”

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