On Azerbaijan's economy in 2021 and overcoming the inevitable crisis through integration into the European Union

Автор: Huseynov R., Rzayev N.

Журнал: Science, Education and Innovations in the Context of Modern Problems @imcra

Статья в выпуске: 2 vol.4, 2021 года.

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As it is known, this year the systemic crisis in the Azerbaijani economy, which has manifested itself since 2016, has entered a new and more destructive level. The coronavirus pandemic and the sharp drop in oil prices caused by it have completely shaken the existing economic structure, 38 and the war at the end of the year cost the country dearly. Since the statistics of the Azerbaijani government are, to put it mildly, questionable, it does not seem appropriate to conduct any analysis on these figures, so we cannot use other statistics, except for reliable data. However, despite all this, the country's economic picture is quite clear: the economic system based on the sale of oil has already naturally entered its final phase. From now on, the oil-based economic model will not justify itself, regardless of oil production and prices. At first glance, there is nothing here, any natural resources, after a certain period of time, begin to run out, and the state makes some adjustments in its economic development project, or takes a completely new course. However, the worrying situation in Azerbaijan is that the government does not want to change anything: reducing corruption, cosmetic changes, more fiscal policy not only changes the existing economic policy, but also serves to continue this policy. Paradoxically, the goal of the reforms is to keep the system more conservative and old-fashioned.

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Короткий адрес: https://sciup.org/16010086

IDR: 16010086

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