BAKU, Azerbaijan, March 17. The Baku Network expert platform rolled out the next part of the analytical video series "Dialogue with Tofig Abbasov", Trend reports.
The guest of the program was the rector of the Academy of Public Administration under the President of the Republic of Azerbaijan, academician Urkhan Alakbarov.
The conversation hit the nail on the head, diving into the nuts and bolts of Azerbaijan's development, shining a light on its strides in energy transformation, economic growth, and the ever-shifting geopolitical landscape in the South Caucasus.
The interview prominently addressed the advancement of
Azerbaijan's energy revolution. Alakbarov underscored that the
nation had achieved considerable progress in its transition to
renewable energy sources. The Energy Transition Index, released by
the World Economic Forum in Geneva, indicates that Azerbaijan is
rated 32nd among 120 countries, surpassing industrialized nations
like Italy, Belgium, the Czech Republic, and Slovakia.
Significant attention was placed on energy efficiency. Azerbaijan
exhibited a remarkable value of 2.62 units per 1,000 USD of GDP
(adjusted for buying power parity), much exceeding that of Norway
(0.7) and Switzerland (1.32), both of which are esteemed leaders in
the energy field. Alakbarov elucidated that this achievement was
propelled by effective energy resource management, substantial
investments in infrastructure enhancement, and diversification of
energy sources.
The scholar also remarked on the rise in Azerbaijan's defense expenditure. He asserted that this was an essential action owing to the persistent threat from Armenia. Alekperov highlighted the detrimental effects of Armenia's hostility during the occupation period, emphasizing that the rehabilitation of the liberated lands necessitated substantial efforts and investments.
The conversation emphasized economic development challenges and methodologies for evaluating national prosperity levels. Alakbarov emphasized the significance of two fundamental economic ideas—those of Simon Kuznets and Mahbub ul Haq. As he noted, Simon Kuznets, an American economist and Nobel Prize recipient, introduced a methodology for evaluating economic development by GDP per capita. For numerous years, this indicator functioned as the primary tool for assessing the prosperity of nations.
Alakbarov noted that this technique is inadequate in the contemporary environment. He used the theory of Pakistani economist Mahbub ul Haq, who created the Human Development Index (HDI) in 1990. This measure considers not only economic issues but also elements such as educational attainment, healthcare accessibility, and overall social stability.
"According to Mahbub ul Haq's logic, if a country has financial resources and competent governance, its population should be healthy, educated, and socially active. This index best reflects the true state of societal development," he explained.
He stated that the adoption of contemporary economic methods and policies enabled Azerbaijan to attain sustainable growth and elevated levels of human development.
Alakbarov also discussed a new approach to evaluating economic development—the Inclusive Development Index. First rolled out in 2018, this index takes the pulse of socio-economic stability in countries by measuring 12 key parameters. Azerbaijan has hit the nail on the head, landing in the 25th spot globally in this index. This achievement speaks volumes about its knack for fostering a welcoming social atmosphere and ensuring that all its citizens have a fair shot at economic opportunities.
"This index is a clear example of how Azerbaijan combines economic growth with social stability," the scholar noted.
At the end of the conversation, Alakbarov put his cards on the table, believing that in the long run, reason and common sense would come out on top.
"I am a firm believer that reason will prevail. And reason tells us that peace in our region is the most reliable and fastest path to development. One of the most modern indicators of development today is the Inclusive Development Index, evaluated based on 12 parameters. This is a relatively new indicator, first mentioned in 2018. Azerbaijan ranks 25th in the world, with 75 economic opportunities," he said.
Alakbarov pointed out that this high ranking is a feather in the cap, proving once more that a stitch in time saves nine when it comes to savvy resource management and shrewd economic planning. He also emphasized that finding common ground in the region is the name of the game.
"I say this because I am convinced that peace in our region is not just a necessity, but a vital precondition for long-term development. I am confident that reason will prevail. I don’t want to believe otherwise. It must prevail. Who benefits from war, after all?," he added.
Alakbarov also noted that, sadly, there are players in Armenia who are cashing in on the military tensions.
"There are people in Armenia who benefit from this. Frankly, they skillfully use the opportunities for destabilization. But we know that peace is the only path to stability and prosperity," he said.
He also elucidated the function of intellectuals in maintaining peace.
"Unfortunately, active and loud voices, who are often semi-educated and semi-literate, tend to dominate public discourse. They overshadow the true intellectuals, who usually behave more modestly. You know, a semi-educated person is often worse than an uneducated one, especially if they believe they possess some knowledge," Alakbarov concluded.
