ADB launches macroeconomic modeling project in Azerbaijan

Business Materials 21 June 2006 13:35 (UTC +04:00)

During first half of June, Asian Development Bank (ADB) launches the project for macroeconomic models development for Azerbaijan. ADB Baku office representatives told Trend that the presentation will be featured by representatives of Ministries of Finance, Economic Development, National Bank of Azerbaijan, which are taking part in modeling and forecasting.

ADB already selected international consultants and involved local experts. Foreign instructors will lead trainings for representatives of various ministries and authorities involved in macroeconomic modeling.

ADBs grant for the project amounts $600k. The grant beneficiary is Economic Reforms center with Ministry of Economic Development. The technical assistance project is scheduled for 2 years.

Macroeconomic modeling system includes complete economic programs that form the basis for the countrys economy. At present the government develops only individual program for individual sectors of economy. However, thanks to said modeling program the government will be able to coordinate and direct financial resources of non-governmental sector in preferable spheres.