May be service?

Azerbaijan service sector declines from 2008 to 2014 in 3% of total GDP... There must be solution...

Agriculture is the solution???

Azerbaijan lands suitable for agriculture is only 4588 thousand ha out of which 3610 thousand ha is subject for erosion.

Another myth...

After oil Azerbaijan has enough gas to prosper...


Gas production is about 16 mln cubic m out of which consumption is more than 10...
Canada produces 160, USA almost 600.

It seems that it will never end

Seems that things changed in our country or this person did something very bad since they start to look after the family. But, some sources say something different. Time will show but, it is almost 5 years from the beginning... When all this will end?

Azerbaijan is oil rich county

Azerbaijan is oil rich country... Nothing to say production on average is 50 mln ton whereas difference between Saudi (410) and USA (360) production is the total production of Azerbaijan...
When you are in small country you think that it is big enough for you, when you take plane and go up you do understand reality. I saw this reality when I was this summer in Franklin Museum in Philly. Our planet is so tiny in galaxy...

And another good figure to know that 96% of industry production is crude oil... Industry is the huge part of GDP, I do not want to provide wrong data here but, everything with new view coming in a book...

Now picture clears...

I do remember that in 2015 we all was so much in panic that have not time to look at figures which are obvious now... Government changed exchange rates in order to cover the budget expenses which were more in 2014 and 2015 than income of the budget. Part of this expenses was financed from debts and part was financed from the difference in currency rate. This what I understand from the figures now...

Income in 2014-18400.6, in 2015-19438.00

Expenses in 2014-18699.3, in 2015-21100.00

Debt raise from 8.2% to 8.6% of GDP

Poverty level and average salary

Since I have a new mission to update the book on Economy of Azerbaijan, I am re-reading all material again and now, I seriously do understand the figures and their meaning...

Poverty level in Azerbaijan in 2014 according to official statistics declined to 8% and average salary was 556 AZN. After currency change the figures changed drastically, I am currently working on them and probably will have latest picture at the end of the year...

But in 2014 556AZN was almost 600 USD whereas, in late 2016 it becomes 330 USD, even with the biggest increase of 20% it will not reach to its old positions...

source: https://www.researchgate.net/publication/332179277_Economy_of_Azerbaijan

Look at Azerbaijani Economy in 2014

source: https://www.researchgate.net/publication/291975035_Azerbaijan_Economy_1991-2016

Yes, we did it!!!

Good news we were able to finalize our agreement with Cambridge Publication for the update of the book. We also preliminary agreed that we will update this book continuously up to 30 years of independence. However, everything will be based on sales and a work that we will do...
So, my idea is to start to work and put part of works on internet as a teaser :)

Book should be submitted on September, 2019...

Our Economy book is now in Congress Library

I am happy to inform you that our book on Economy was received and cataloged by US Congress Library. This a very positive news for me. Now, we have a stimuli to work on the update.  I was too much involved into the business last year and now, I will try to work out a bit on academic way. Hopefully, you will get update book on Economy of Azerbaijan. I need to find out how we will print this book and ....