McKinsey to develop road map for Azerbaijan's economy
By Nigar Abbasova
The government of Azerbaijan hired McKinsey & Company, a worldwide management consulting firm, to develop a road map for the country's economy up to 2025 and beyond, the Financial Times reported.
“We were expecting to enter the post-oil era in about 10-15 years, but we have practically found ourselves in that situation already today,” Financial Times quoted Natig Amirov, Azerbaijani presidential aide on economic reforms, as saying.
He noted that revenues from customs increased 30 percent in the first half of 2016 from a year earlier. The government has also drastically reduced the number of inspections of companies by government agencies, Amirov added.
The state structures of Azerbaijan have conducted as many as 49 business inspections from November 2015 to March 2016 as compared to 33,300 checks in the same period of 2014-2015.
The suspension of inspections is considered to be an important step for the stimulation of the business development in the country.
President Ilham Aliyev approved main directions of the strategic roadmap of the national economy and main economic sectors in March 16, 2016. The main objective of the drafted road map is to ensure sustainable economic growth, correctly define the development strategies for auxiliary sectors that contribute to creating the economy’s leading sectors and the necessary economic infrastructure.
A special group, headed by Natig Amirov was created to prepare relevant plans in accordance with the road map.
Amirov earlier said that the strategic road map will help to develop a new economic model, stressing that the country is keen to turn into one of the most attractive countries for investors.
The drafts of economic development strategy and action plan for 2016-2020 as well as long-term review project for the period until 2025 and target vision for the period after 2025 is expected to be prepared till September 2016.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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