Oval Useful news from Azerbaijan and Caucasus

Political and economic stability 2nd fastest growing economy among 179 countries in terms of GDP per capita growth in 2001-2010 (The Economist). In the past 10 years: GDP grew by 3 times, non-oil GDP by 2.5 times, GDP per capita by 2.6 times, strategic currency reserves by 29 times. Foreign …

Azerbaijan is one of the world’s cradles of civilization. In Gobustan, about 70 kms south of Baku, are Petroglyphs dating back to the 12th Century BC. The area was regarded by another ancient civilization, the Roman Empire, as more ancient than their own. 14 centuries later, the area is a …

  Ending of the war.   After clearing territory of the USSR from the fascists a nature of war, which this the country conducted with Germany, has changed. The war proceeded for an implementation of policy of the Soviet empire`s chiefes directed to creation of communist modes in East Europe …

Azerbaijan, the third largest oil producer in the Commonwealth of Independent States (CIS) after Russia and Kazakhstan, shifted to a floating exchange rate regime on December 21, 2015, triggered by a rapid fall in oil prices. For the long term Azerbaijan had almost a constant peg of the US dollar …

The food balance is the economic table, reflecting sources of resources’ formation of the main type of food products and purposes its using.   The food balance reflects statistical data on movement from product output to its final consumption and gives an opportunity to analyse current situation, to forecast its …

Introduction Corruption is organized, common and highly institutionalized element in post-soviet countries. In these countries both governmental officials and citizens are corrupted and give and get bribe in favor of their problems, work. Informal rules and norms are more powerful than laws and formal rules between public and private sectors, …

The research studies the relation between oil revenues and budget structure in oil dependent country – Azerbaijan. In the paper I will analyze Norwegian, Russian model of oil revenue management. The study shows how oil prices influenced these oil-exporting countries’ economies. I will try to analyze the changes in budget …