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22-10-2014, 18:04,

The economy of Azerbaijan in 2013 can be characterized very briefly like this: stabilization and diversification. The said year demonstrated that Azerbaijan would not stay as an oil country, but become one of the main gas suppliers of Euro­pe. Along with the said, it became obvi­ous that other fields of economy of the country would also be developed on the account of the incomes obtained from oil and gas sector. In the recent year the vector of the economic development of the economy of Azerbaijan has inclined towards the non-oil sectors. They include industry, information communication te­chnologies, agriculture and tourism.

 

 

“Azerspace-1”

Azerbaijan began the year of 2013 with a cosmic speed. On the 8th of

February the first artificial telecommu­nication satellite of Azerbaijan "Azers- pace-1" was put into the orbit. Thus, Azerbaijan became a member of the cosmic family. The National Satellite has already begun to produce incomes. Al­ready approximately ten million euros of income has been obtained from the activity of the satellite belonging to "Azercosmos" Open-type Holding Com­pany. in the years of its activity this sum will grow up to 500 million US dollars. In the nearest years it is intended to let into the space the second and third sa­tellites.

Another significant novelty of Azer­baijan in the sector of the information communication technologies was the functioning of the System of Regist­ration of the Mobile Appliances in the country. It put an end to the entry of spurious mobile telephones into the mobile communications network of the country and their use. As a result of it Azerbaijan approached the European standards more than ever.

 

“The Contract of the Cen­tury-2": "Shah-deniz"

The greatest event connected with the economy of the country and the world of economy connected with Azerbaijan took place at the end of the year. In this year the issue of the route of transportation of the natural gas to be produced in the Second Phase of the deposit of "Shah-deniz" in the Azerbai­jani Sector of the Caspian Sea to Europe was clarified. On the 28th of June it was declared that it would be Trans-Adriatic Pipeline (TAP), which would cross the territories of Greece, Albania and Italy. It is the continuation of Trans-Anadolu Pipeline (TANAP). Up to the present times the European Union supported actively the NABUC- CO project for the transportation of the Major Gas of Azerbaijan. The choice TAP demonstrated that Azerbaijan pursues an independent energy poli­cy; it proved that in its policy Azerbaijan proceeds not from political decisions, but purely commer­cial factors.

Through the said corridor ten billion cubic meters of natural gas will be transported to Euro­pe each year beginning from 2019. It is intended to increase the volume of the transported gas gradually twice and reach 20 billion cubic meters a year. Recently the State Oil Company of Azer­baijan (SOCAR) has purchased 66 per cent of the shares of DESFA Company, which rules the gas distributor system of Greece. The signature of the contracts on the Sale and Purchase of Shares and on the Shareholders took place on the 22nd of December.

The greatest economic event of the year took place on the 17th of December in Heydar Aliyev Center in Baku. On that day a memorandum of understanding on final investment agreement and "Southern Gas Corridor" was signed among the partners of "Shah-deniz-2" project. According to the investment agreement, "British Petroleum" Company of Great Britain will continue its activi­ties in Azerbaijan till 2048 in minimum. The most important is that the contract includes the con­duction of exploration activities in "Shah-deniz” deposit. Thus, "Shah-deniz-3" may be awaiting us in future.

The recently implemented projects in the field of energy bearers are not limited with oil and gas only. Power producing energy projects allowed not only satisfy the needs of the country to elect­ric power, but also made it possible export energy to Europe.

 

 

NON-OIL ECONOMY

Despite all the projects implemented into life in the sphere of oil and gas, the Azerbaijani govern­ment sees the future of the country in the develop­ment of non-oil sector, naturally, on the account of incomes obtained from oil incomes.

In 2013 the development of the economy of Azerbaijan continued. According to the initial in­formation, in the 11 months of 2013 the volume of Gross Domestic Production made 52, 1 billion ma­nats (Diagram3).

This economic development according to its speed lags behind the economic jerk of the mid of 2000, but it is higher than that in quality. In 2013 the non-oil sector of the economy of Azerbaijan left behind the oil sector in development, it is an offici­ally recognized fact. In this year 52,1 manats worth of GDP was produced in the country, the share of non-oil sector in it is 29,2 billion manats or 56 per cent. For the sake of comparison we must say that the share of the non-oil sector in the economy of Azerbaijan was 53 per cent (information of the State Statistic Committee, page 15).

THE JUSTIFIED TAX FORECASTS

In 2013 the economic development was ac­companied with strengthening and consolidati­on of the economic discipline. In this year for the first time the volume of the collected taxes was over 8 billion manats (Diagram 1). In fact, this pro­cess has been going on for several years, the volu­me of the collected taxes in the recent four years were about 50 per cent. The share of the non-oil sector in collected taxes is also growing.

 

 

AUTOMOBILE  BOOM

In 2013 Azerbaijan joined the rank of count­ries in which the number of motorcars is over one million. Due to the rise of the living level of popu­lation now one of each two homilies has a motor­car. Speedy increase of the number of the means of transport led to the increase of the demand to fuel severely. As a result in 2013 for the first time. Azerbaijan was obliged to stop the export of mo­torcar fuel. The motorcar fuel produced in the country was wholly spent for the satisfaction of the internal demand. The rise of the price of the motorcar fuel, including that of diesel, by the de­cision of the Tariff Council, did not change the si­tuation; the volume of the internal consumption will continue to grow next year, too. (Information of the State Statistic Committee, page 55).

BANK AND FINANCIAL SECTOR

In 2013 the strategic-currency reserves of Azerbaijan approached to 50 billion USA dollars. 36 billion US dollars of it fell to the share of the State Oil Fund of Azerbaijan, 14 billion US dollars to the share of the Central Bank. This year the Central Bank prolonged the time limit allowed to the commercial banks till the end of 2014 for rai­sing their charter capitals to 50 million US dollars. In 2013 the process of returning the savings of population remaining from the Soviet time en­ded. While doing it over 600million Azerbaijani manats were returned to those whose savings had already been lost, it was the fairest compen­sation paid in the space of CIS. In this period 20 per cent increase took place in the insurance sec­tor of the country, the market got new insurance products and kinds.

A COUNTRY OF GLOBAL COMPETITIVENESS

On the 8th of April, 2013, for the first time Da­vos World Economic Forum was held. It was orga­nized on the topic of "Strategic Dialogue on the Future of the Southern Caucasus and the Cent­ral Asia". At the same time in the account report developed by the Forum "On Global Competiti­veness in 2013-2014" Azerbaijan rose to the 39th place with 4, 51 points from the 46th place which it occupied in the previous year. Thus, Azerbaijan joined the number of 40 most competitive count­ries.

 

 

THE AGRARIAN SECTOR

Another important novelty was the creation of big agricultural economies in the country. The first such economy was created in the territory of the district of Aghjabadi. Such economies must play the role of an example for other agricultural structures in management and productivity. In fu­ture it is intended to increase the number of such economies to 40-50, it is expected that they will occupy an important place in the food supply of the country.

Serious projects were materialized in this pe­riod; they greatly supported the development of the agrarian sector. One of them was the opening of Takhtakorpu Water Dam built in the territory of the district of Shabran on the 28th of September. It was materialized in the frames of the project of reconstruction of Samur-Absheron irrigation sys­tem. As a result of materialization of these projects the water supply of 150 000 hectare of lands in the districts of the northern region will improve and in 31 000 hectare new irrigated lands will be put into exploitation.

 

 

 

 

DYNAMIC PROPERTY MARKET

In 2013 for the first time the operations con­ducted in connection with the sale and purcha­se of property overstepped 170 000 in number, two-thirds of it falls to the share of the regions. In general, in the recent four years operations con­ducted in connection with the sale and purchase of property have grown twice.

 

 

THE NEXTTARGET: INDUSTRIAL ZONES

In 2013 Azerbaijan defined concretely the tar­gets of the non-oil sector, including the targets connected with the development of industry, and expanded the birth of industrial zones. Mingache- vir was also declared an industrial zone along with Sumgait, Garabagh and Ganja.The biggest indust­rial enterprises are being built in these territories, which will be provided with modern infrastructu­re. To increase the attractiveness of these territo­ries for the entrepreneurs additional stimulating mechanisms were applied, these industrial zones were released from the payment of taxes for seven years. This step of the government besides being an economic stimulus for the private sector, it also laid the foundations of the systemic development of the industry in the planned form.

 

 

THE TOURISM SECTOR: POPULAR HOTEL BRANDS OF THE WORLD IN AZERBAIJAN

As in the previous years, in 2013 tourism be­came the priority sector of non-oil sector in Azer­baijan. New tourist objects began to function in the capital and in the regions of the republic. Here we must mention "The Fairmont Baku Hotel" in the complex of "Flame Towers” in Baku, "The Caucasian Caravansary" hotel complex in Gabala, "Excelsior Hotel Shamkir Hotel”, "The Shahdagh" and "Peak Palace" in the winter-summer tourist complex in Gusar and "Rixos Guba Azerbaijan" hotel complex. The complexes built in the regions of the country will create conditions for the development of tou­rism in the regions and it will also create conditi­ons for transforming Azerbaijan into an important tourist center in the region.

 

 

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The information was referred to “Azerbaijan 2013 Some notes on the 12 months long way”

www.ocaz.eu

Category: Economy / Result of the year 2013

 

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