In 2006 the GDP is expected to increase to 40% and it is not the final level for Azerbaijan, Samir Sharifov, the Azerbaijani Minister for Finances, also the Black Sea Bank for Trade and Development (BSTDB) Director from Azerbaijan, stated to a business-forum held within the annual meeting of the BSTDB which started in Baku on Monday (12 June), Trend reports.
According to Sharifov, a favorable economic climate has been established in the country in the sphere of oil revenues and over the subsequent 15 years. The oil prices at $40 per barrel promises over $100bn in revenues for Azerbaijan, he stressed.
In this connection rise of the financial sector is very important and the government should offer necessary facilities to raise the activities of the banking sector in accordance with the international standards. It is necessary to conduct measures on improve of the quality of services, Sharifov underlined.