On March 16, 2023, by the order of Ministry of Finance of the Republic of Azerbaijan, presented the results of the study prepared by the Institute of Economics of the Ministry of Science and Education
The purpose of the study is to assess the level of financial self-sufficiency of the country's administrative and economic regions and to draw up a rating based on this. For this, the "Self-financing level index" was calculated for our regions based on 3 different methodologies proposed by the authors. During the assessment, also investigated the issues such as development dynamics of regions, socio-economic indicators, effects of decisions made in previous periods on regional development.
Minister of Finance Samir Sharifov, Deputy Minister of Finance Azer Bayramov and other leading employees of the Ministry, members of the Temporary creative group formed at the Institute of Economics took part in the event. Director of the Institute of Economics, prof. Nazim Muzaffarli gave an extensive report on the methodology and results of the research.
Minister of Finance S. Sharifov highly appreciated the presented research project and emphasized that the results will be useful. The minister noted that the leading scientific centers of the country, as well as institutions under the Ministry of Science and Education, should prepare their own proposals for solving the challenges facing the country's economy, including assessing the level of financial self-sufficiency of the country's administrative and economic regions and putting forward proposals for increasing the level of self-financing. driving evaluated positively and this practice is planned to be continued.
At the event, held wide discussion on the methodological bases of the analysis presented by the Institute of Economics, and the authors put forward proposals for increasing the level of self-financing in our regions.
It was decided to present the results of the research to the Cabinet of Ministers of the Republic of Azerbaijan (economics.com.az).
