On September 25, 2023, held a scientific seminar in a hybrid form at the Institute of Economics of the Ministry of Science and Education. The event chaired by the director general of the institute, D.Sc., professor Nazim Muzaffarli, was attended online by a number of employees of higher education institutions
At the seminar, the head of department of “Innovative economy and digital transformation of the Institute”, associate professor Allahyar Muradov made a presentation on the research conducted on "Financial self-sufficiency of Azerbaijan's regions". He said that this scientific research was carried out under the leadership of prof. Nazim Muzaffarli and a group of employees of the Institute of Economics that was ordered by the Ministry of Finance of the Republic of Azerbaijan.
The purpose of the study is to assess the level of financial self-sufficiency of the country's administrative and economic regions and 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 evaluation, also investigated issues such as development dynamics of regions, socio-economic indicators, effects of decisions made in previous periods on regional development. The results of the investigation were submitted to the Cabinet of Ministers of the Republic of Azerbaijan and the Ministry of Finance.
During the presentation, was given extensive information about the methodology and results of the research. Then there was a broad discussion about the research, the authors answered questions about increasing the level of self-financing in our regions. The professors and teachers of MSU highly evaluated the presented research project and emphasized that it can be useful in terms of assessing the level of financial self-sufficiency of administrative and economic regions of the country and increasing the level of self-financing (economics.com.az).
