On 23 February the Asian Development Bank (ADB) set up discussions with the Azerbaijani government on the results of estimation of the public management and private sector in the country, Trend reports. On the first day the discussions are held with the representatives of the public bodies, while on the second day with local and international NGOs, representatives of international financial organizations active in the country, donors.
During the discussions the deputy minister for economic development, Mikayil Jabbarov, put his claims on the data used while evaluation of the private sector. He explained the partiality of the report with the use of outdated statistics data during the estimation of the report, which did not fully cover the countrys economy. The report cannot make Azerbaijan less attractive. The head of the Baku Office of the ADB, Mathew Westfall, agreed upon the claims, as in 2005 rise in the Gross domestic Product (GDP) made up 26.7%. According to estimations by the ADB, the economic growth comprised 30.2% .
Westfall said that the document was designed by consultants and experts of head office of the ADB in Manila on the base of general standards and data collected by the
ADB experts in Azerbaijan. Westfall admits dynamic development of economy and work in this direction will continue. Nevertheless, the Board of Directors will adopt the report and it will be reconsidered every year. At the moment the working group is involve din the improvement of a report on the base of claims by the government. The version coordinated with Azerbaijan will be submitted the bank.
The report indicated the development of the private sector with low indices 0.1%, whereas the real figure was 6-8% and some times 14%, Jabbarov stressed. I think the investment appeal of the country will fall in connection with the publication of the ADB report, as on this criteria Azerbaijan takes a leading position not only I the region, but through out the world, the deputy minister said. The perfect legal system plays a priority role in the development of the private sector and the project will be implemented in this direction with BP soon.
Even 10 years ago we set up talks with the international financial institutes on the danger in the development of the non-oil sector of economy in condition of oil flows, which is peculiar to countries with natural wealth.
In general, the Azerbaijani deputy minister assures on the necessity of deeper approach for right estimation of the banking sector business climate in the country, which were analyzed in the report. In this respect it is also necessary to base on current growth pace and compare it with the CIS and East Europe countries.
The Director of Trade, Finances and Management at the ADB Department for East and Central Asia, Noy Siakhachankh distinguished two major tasks for the development of private sector in the country. It is increase of potential of local organizations and use of finances and use of potential of the private sector for avoiding the Disease disease.