At the University of Technology of Azerbaijan (UTA) held an event in cooperation with the Institute of Economics of the Ministry of Science and Education. The event was attended by the teaching staff of UTA, the director general of the Institute of Economics, Professor Nazim Muzaffarli, the general manager Shakir Aliyev, departments’ heads Allahyar Muradov, Parviz Hasanov, Mahir Zeynalov and leading researcher Famil Rustamov
Yashar Omarov, acting rector of University of Technology of Azerbaijan, opened the event with his speech, greeted the guests and gave information about the main purpose of the event. He spoke about the importance of cooperation between scientific research institutes and universities, the integration of science and education, and the benefits of implementing joint projects.
Then Professor Nazim Muzaffarli gave a lecture on "Financial self-sufficiency of Azerbaijan's regions" for the economist professor-teaching staff of UTA. Giving extensive information about the methodology and results of the research, he said that this research, which was carried out with the participation of a group of employees of the Institute of Economics, was carried out by order of 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 assessment, issues such as development dynamics of regions, socio-economic indicators, effects of decisions made in previous periods on regional development were also investigated. The results of the study were submitted to the Ministry of Finance of the Republic of Azerbaijan. During the presentation, was given 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.
After the event, the possibilities of further expansion of cooperation between the two institutions and the implementation of joint projects were discussed with the management staff of UTA (economics.com.az).
