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Monday, June 26, 2017

The Central Bank of Azerbaijan develops fourth Research Bulletin

The Central Bank of Azerbaijan recently posted the fourth issue of its Research Bulletin e-publication on its website.

The bulletin summarizes recent global economic developments, the situation in the world's financial markets, economic policies and global expectations.

The bulletin also displays modeling and forecasting innovations in European central banks for evaluating income increase and income inequality as well as recent research findings on the global financial system.

Since independence from the Soviet Union, Azerbaijan's economy is more reliant on international trade, which it has been steadily building with Turkey, Iran, the UAE and the countries of the EU.

Azerbaijan is also a member of the Economic Cooperation Organization.

The backbone of Azerbaijan's economy is petroleum, and now that Western oil companies are able to tap deep water oilfields untouched by the Soviets because of poor technology, Azerbaijan is considered one of the most important areas in the world for oil exploration and development.