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Begin New Search Publishing Institution Center for Economic and Social Development (CESD) Author CESD Research Team

1. A preliminary assessment of the impact of the COVID-19 pandemic on Azerbaijani economy

Author:
CESD Research Team
Publication Date:
08-2020
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
Azerbaijan became the country among the post-soviet countries, that allocated the largest share of GDP, in order to eliminate the economic challenges caused due to the outbreak of COVID-19. Providing favorable economic conditions in the post-pandemic period is as crucial as supporting the economy during the period of the pandemic. It is an undeniable fact that the impact of the pandemic on the economy might be fully assessed only over time. Experience demonstrates that early evaluation may lead to even greater recession and instability. This paper aims to demonstrate the challenges faced by Azerbaijan in the framework of the fight against a pandemic. Since the economy of a country was affected, a detailed analysis may provide a better understanding of the outcome, enlightening the areas which need more support and development.
Topic:
Development, Economy, COVID-19, and Health Crisis
Political Geography:
Eurasia, Caucasus, and Azerbaijan

2. CESD Research Brief: Should we expect a change in the rate of Azerbaijani manat in context of high demand for US dollar?

Author:
CESD Research Team
Publication Date:
03-2019
Content Type:
Policy Brief
Institution:
Center for Economic and Social Development (CESD)
Abstract:
In January-February of 2019, activity in foreign exchange markets has further escalated. According to the information provided by the State Oil Fund of Azerbaijan (SOFAZ), during the corresponding period 951 million US dollars were sold, including 634.9 million in January and 316.2 million in February. This is 47.2% higher than the same period of the previous year.
Topic:
International Relations and International Affairs
Political Geography:
Global Focus

3. Social consequences of the oil price shock in the resource rich post-soviet countries

Author:
CESD Research Team
Publication Date:
12-2019
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
This study seeks to determine the impact the fall in global oil prices post-2014 had on the welfare of the populations of three resource-rich post-Soviet states: Russia, Kazakhstan, and Azerbaijan. Changes in welfare will be explored through the analysis of several socio-economic indicators affected by the local currencies’ devaluations. It will be suggested that the single-commodity export dependence of the countries concerned, and the domestic development of non-tradeable sectors faltered in the face of external shocks. Several policy suggestions are offered to mitigate the effects of the economic downturns observed.
Topic:
Oil, Gas, Exports, and Welfare
Political Geography:
Russia, Eurasia, Kazakhstan, and Azerbaijan

4. The Azerbaijani economy in the first nine months of 2019: Brief Overview

Author:
CESD Research Team
Publication Date:
10-2019
Content Type:
Special Report
Institution:
Center for Economic and Social Development (CESD)
Abstract:
CESD – the Center for Economic and Social Development – concluded its macro-economic survey results for the first nine months of 2019. According to the State Statistic Committee of Azerbaijan, Gross Domestic Product (GDP) increased by 2.5 % in January-September 2019 compared with the same period of previous year: The CESD’s figure for the same period was 2.0 %.
Topic:
Development, Budget, Economy, and Macroeconomics
Political Geography:
Eurasia, Caucasus, and Azerbaijan

5. 2020 State Budget of Azerbaijan: Brief Independent Review

Author:
CESD Research Team
Publication Date:
09-2019
Content Type:
Special Report
Institution:
Center for Economic and Social Development (CESD)
Abstract:
he Ministry of Finance of the Republic of Azerbaijan presented the draft of the 2020 State Budget. According to the document, the growth rate of the Gross Domestic Product (GDP) in Azerbaijan is expected to decline by 2020. The draft State Budget takes the expected cost per barrel in 2020 as US $55. Despite the fact that it is US $5 less than the previous year’s price, it doesn’t fully ensure related risks. Thus, CESD suggests to take US $50 per barrel for the state budget next year.
Topic:
Oil, Budget, GDP, and Finance
Political Geography:
Eurasia, Caucasus, and Azerbaijan

6. The Azerbaijani economy in the first half of 2019: Brief Overview

Author:
CESD Research Team
Publication Date:
08-2019
Content Type:
Special Report
Institution:
Center for Economic and Social Development (CESD)
Abstract:
CESD – the Center for Economic and Social Development – concluded its macro-economic survey results for the first half of 2019. According to the State Statistic Committee of Azerbaijan, Gross Domestic Product (GDP) increased by 2.4 % in January-June 2019 compared with the same period of previous year: The CESD’s figure for the same period was 2.0 %. The GDP totaled 37,825 billion manat ($22,250 billion USD) in the first half of 2019.
Topic:
Development, GDP, Economy, and Macroeconomics
Political Geography:
Eurasia, Caucasus, and Azerbaijan

7. Azerbaijani National Currency: Is the Current Status Quo Sustainable?

Author:
CESD Research Team
Publication Date:
10-2018
Content Type:
Policy Brief
Institution:
Center for Economic and Social Development (CESD)
Abstract:
Currently, in Azerbaijan and the Caucasus, the situation in the economies of the region is quite variable. On the other side of the ocean, the US Federal Reverse System has been continuously raising the key interest rate. In Russia, the ruble depreciated due to existing and probable sanctions, in Turkey, economic and political circumstances have led to the 40% loss of the lira’s value (and this figure is expected to further increase by the end of the year), and the withdrawal of the US from the Iran Nuclear Deal with replaced sanctions has caused more aggravation to the socio-economic situation and rapid deprecation of the Iranian rial in the southern neighbor of Azerbaijan. The so-called trade wars and new processes led by the current US government form serious risks for globalization and liberal trade.
Topic:
International Affairs
Political Geography:
Global Focus

8. The CESD Assessment on the 2017 State Budget Project

Author:
CESD Research Team
Publication Date:
11-2016
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
According to the legislation on the Budget system, the legislative project on the state budget of the Republic of Azerbaijan for 2017 and the state and consolidated budget projects of 2017 were publicized on 29th of September, 2016. It has been three years that the legislative projects on the consolidated and state budgets of the Republic of Azerbaijan are being prepared amidst the absence of positive economic trends for the country. Specifically, during the preparation of 2017 state budget, external and internal economic impacts were considered at greater extent. As in previous years, the Center for Economic and Social Development has prepared a comparative analysis of the budget project publicized by the government. It is to be mentioned that, during the preparation of the analysis, the conversion of indicators into the foreign (US dollars) currency is carried out according to annual average currency indicators published by the Central Bank of the Republic of Azerbaijan, whereas the conversion of 2016 indicators into US dollars is conducted in accordance with the average exchange rate of first 8 months (1 US Dollars = 1, 56 manat) and 2017 indicators in accordance with the official exchange rate dated 29th September 2016 (1 US dollars = 1.6252 manat). The comparison of the budget project with previous years plays a prominent role in the forecasting of socio-economic trends for next year and the determination of state fiscal policy and the short-term and strategic position of the government in separate directions.
Topic:
Budget and Finance
Political Geography:
Azerbaijan

9. Progress of Energy Union Implementation: The Case Of Azerbaijan

Author:
CESD Research Team
Publication Date:
10-2016
Content Type:
Policy Brief
Institution:
Center for Economic and Social Development (CESD)
Abstract:
Azerbaijan’s tradition in the business of oil and gas started in the 1800’s with the involvement of international oil companies and thanks to the fossil-energy Azerbaijan turned to be one of the world ́s biggest oil producers. Taking into consideration the current status in the country, the Energy Union could provide to Azerbaijan a position of stability and security through the implementation of all 5 policy areas that the EU suggests (supply security, a fully-integrated internal market, energy efficiency, climate action-emision reduction and research and innovation)
Topic:
Energy Policy and Financial Markets
Political Geography:
Azerbaijan

10. Currency market in Azerbaijan: Why the national currency is losing its value?

Author:
CESD Research Team
Publication Date:
08-2016
Content Type:
Working Paper
Institution:
Center for Economic and Social Development (CESD)
Abstract:
It has already been three month since the national currency of the Republic of Azerbaijan continuously loses its value. Since the second half of 2014, due to the fall in oil prices on the world markets, the resulting pressure on the national currency – ‘Manat’ is ongoing nowadays. Overall, Manat lost 49.6% of its value in 2015 and in addition, with more 3% depreciation in the first 7 months of 2016, the losses could reach 52.6%. Although the occurring rapid dollarization and the observed stagnation in the business environment especially in imports in the first months of 2015 and 2016 resulted in short-term reduction in foreign exchange demand in March-May period of this year and strengthening the exchange rate of USD/AZN at the level of 1.49, the process of depreciation proceeded again afterwards. As a result, the national currency increased its annual losses to the level of 3% in June-July, by depreciating 7% against the US dollar again.
Topic:
Finance
Political Geography:
Azerbaijan

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