Azerbaijan should continue to liberalize economy

Business Materials 11 June 2018 11:11 (UTC +04:00)

Baku, Azerbaijan, June 11

By Ilkin Shafiyev - Trend:

It is necessary to continue work on the liberalization of the economy in Azerbaijan, assistant to the Member of the European Parliament Amjad Bashir Olympios Raptis told Trend.

"Today, it is very important for Azerbaijan to continue the reforms, and to remove various barriers and obstacles for investors. It is necessary to further improve the business climate, to reduce the share of the public sector in business, to ensure the protection of investors' rights, regardless of their nationality. These are the key factors for ensuring the inflow of large foreign investments to the Azerbaijani market," Raptis said.

Another key factor is the implementation of measures to further introduce innovations in the public services sector.

"This is the key to increasing transparency of public services, and reducing bureaucracy and corruption," said Raptis.

In general, the representative of the European Parliament said, there are positive trends in the Azerbaijani economy.

"According to IMF forecasts, Azerbaijan's economy will grow by 2 percent in 2018 and 3.9 percent in 2019. These are positive indicators that show that the economy is on the right track," Raptis said.

The government of Azerbaijan forecasts GDP growth at the level of 1.5 percent for the current year.

Follow the author on Twitter: @IlkinShafiyev