The European Bank for Reconstruction and Development (EBRD) unveiled Azerbaijan’s transition scores for six qualities of a sustainable market economy, "APA-Economics" reports citing the bank’s Transition Report 2019-20.
The report presents updated “assessment of transition qualities” (ATQ) scores for all of the economies where the EBRD invests. It measures those economies’ progress against six key qualities of a sustainable market economy, looking to see whether they are competitive, well-governed, green, inclusive, resilient and integrated.
According to the document, the country’s competitiveness score reached 4.39 compared to 4.22 recorded in 2018. Changes to competitiveness scores largely reflect gradual improvements in Azerbaijan’s business environment and the quality of its logistics.
The governance score of the country also recorded an increase of 0,4 and equaled 5.79. The improved score mainly reflect better perceived protection of private property rights and stronger frameworks for challenging regulation and protecting shareholders’ rights in Azerbaijan.
Moreover, the report notes that a Law on Mediation adopted in March 2019 with a view to enabling alternative dispute resolution mechanisms to operate in commercial, civil, family, labor and other disputes facilitated a rise of this score.
As for the green and inclusion scores, these indicators on Azerbaijan remained unchanged amounting to 5.35 and 4.94, respectively.
The resilience and the integrations scores showed a negative dynamics and fell to 3.97 and 5.59, respectively (4.10 and 5.60 in 2018) though the report says that in February 2019, Azerbaijan launched a “green corridor” system in an attempt to significantly simplify export and import clearance procedures for authorized firms.
It should be noted that changes to overall resilience scores reflect both financial resilience and energy resilience.
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