Scientists of the Institute of Economics participated in the preparation of the State Program
President Ilham Aliyev has signed an Order dated September 26, 2018 to approve the State Program on Digital Payments for the Republic of Azerbaijan in 2018-2020. The strategic objective of the State Program is to significantly expand the cashless payment environment between the citizens, business entities and government agencies, minimize cash flows and, ultimately, strengthen the financial resources of the banking sector.
For this purpose, the main strategic priorities are to strengthen the institutional and legal basis of digital payment services in the country, to expand the range, quality and scope of these services, as well as to exploit them by increasing their infrastructure capabilities.
Expanding the application and utilization of digital payments will lead to a decrease in operating costs of banks and enterprises, which will in turn facilitate the expansion of the tax base, access to financial services of the population and enterprises, strengthening the lending and investment opportunities of the banking sector and which will eventually lead to economic growth.
Monitoring and evaluation of the implementation of the measures envisaged by the State Program will be carried out by the Economic Reform Analysis and Communication Center on the order of the AR Central Bank.
Director of the Institute of Economy of ANAS, Professor Nazim Imanov, Deputy Director on Scientific Affairs, Ph.D., Associate Professor Allahyar Muradov, correspondent member of ANAS Akif Musayev and the scientific secretary of institution, Ph.D., Assoc. Rasmiyya Abdullayeva took an active part.
It should be noted that, the implementation of the "minimum standards of labor standards for reducing the number of unregistered labor contracts in the sectors with high levels of informal employment", envisaged by the action plan of the program, was entrusted to the Ministry of Labor and Social Protection of Population and the Institute of Economics of ANAS (science.gov.az).
