Global crunch raised Azerbaijan’s reliance on oil: researchers
BAKU – The world financial crisis has increased the Azerbaijani economy’s reliance on oil, local researchers have concluded.
Experts of the Economic Research Center (ERC) have said that according to official estimates, the number of lost jobs tripled and that of opened jobs decreased by 35,000 in 2009 in comparison with 2008.
Research conducted by the ERC revealed that mostly middle-aged and elderly people became unemployed. Moreover, people with university degrees accounted for most of the jobless during the crisis period, the experts said.
But Azerbaijani officials have repeatedly said the global crunch has not affected the economy of the fast-growing South Caucasus republic.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!