ERDB evaluated Azerbaijan’s transition to sustainable market economy

ERDB evaluated Azerbaijan’s transition to sustainable market economy
  • Clock-gray 13:52
  • calendar-gray 10 November 2020

The European Reconstruction and Development Bank (ERDB) has evaluated main indicators characterizing Azerbaijan’s transition to sustainable market economy, APA-Economics reports citing ERDB’s report entitled as "Transition Report 2020-21".

The evaluation was conducted on the basis of 6 indicators: competitiveness, management and regulation level, level of transition to "green" economy, level of involvement into economy of people from various categories, economic sustainability and integration.

According to the report, in 2020, the business environment in Azerbaijan developed and the competitiveness index rose from 4,30 items to 4,54 items. The well governance and regulation index in the country also rose from 5,31 items to 5,58 items thanks to establishment of stronger frameworks in order to regulate and protect the better admitted defense of transparency, personal and intellectual property rights in the country during the recent years.

Meanwhile, the "Green" index being the indicator of the level of transition to "green" economy remained unchanged  – 5,37. No improvement has been recorded for this index in any country of the region except for Russia.

The economic resilience index against common foreign economic shocks rose from 4 to 4,09 in 2020. The level of involvement into economy of people from various categories rose to 5,07 items thanks to more diversified economy (it was 4,93 in 2019).

Finally, the integration level index rose from 5,61 items to 5,85 items. This index reflects level of development of trade and transport relations.

Mirsaid İbrahimzade

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