Baku, Azerbaijan / Тrend corr A. Badalova / A new NGO has been established in Azerbaijan - the Fund of Economic Reforms. The main purpose of the new organization is to carry out economic reforms, the Deputy Chairman of Azerbaijani Permanent Parliamentary Commission on Economic Policy, MP Azer Amiraslanov, reported at a press-conference on 2 August. "An economic boom is underway in Azerbaijan, which is mainly related to the oil boom," the MP said. According to him, the Azerbaijani administration considers it a priority to keep macroeconomic stability at this stage. Amiraslanov also stressed that the liberalization process was taking place on a large scale in the economy.
"Another peculiarity of the Azerbaijani economy in this stage is the beginning of structural and institutional reforms which are intended to improve the activities of state bodies," the MP added. He also commented that 2006 can be called 'the Year of Experiments'. The administration of the country initiated new ideas both in social and economic fields. In order to improve the economic and military power of Azerbaijan, the Government is taking very important steps in these regards.
According to Amiraslanov, emergence of inflation in Azerbaijan is connected with economic factors and several objective and subjective reasons.
The MP noted that by 2025, oil reserves in Azerbaijan will lessen and the revenues from sale of oil can play a very important role. "Today, owing to our oil revenues, we raise salaries and solve the problems of refugees, and taxes also can be decreased at the expense of the revenues," he said.