CESD concluded its macro-economic survey results for the first nine months in 2016. Both independent and official reports show that GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased 3.9 % in the first nine months in 2016 since CESD calculations found …
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Azerbaijan’s economic model and its development since independence
Obtaining independence on November 18, 1991, the Republic of Azerbaijan entered a long lasting1 transition period with different stages, which lasted till 2010. During this period, the economic development of the country experienced several cycles: firstly, the recession (19921995) recovery (1996- 1997), boom (1998-2008) and final slump (starting 2009).
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