Azerbaijan, Baku, Oct.10 / Trend N. Ismayilova /
The Research Institute on Economic Reforms at the Azerbaijani Economic Development Ministry and the Research Center EcoMod have today signed a contract in Baku to develop a general equilibrium model to predict the country's socio-economic indicators.
The contract was signed within the conference "Azerbaijan's economy since independence".
From the Azerbaijani side the document was signed by the Institute Director Vilayat Veliyev, from EcoMod - the center's president Ali Bayar.
Preparation of the model was launched in 2006 by the Asian Development Bank (ADB). The project has been implemented under ADB grant worth $600,000 and was designed for two years.
Within ADB's technical assistance to hold trainings consultants have been involved, which include the U.S. company ECOMOD Network and London Business University. "But later, the project was suspended due to lack of information to create a model," Valiyev said.