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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).
Read More »Azerbaijan’s economic model and its development since independence
