azaaijan.docx - 1 MACROECONOMIC DEVELOPMENT IN AZERBAIJAN...

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1MACROECONOMIC DEVELOPMENT IN AZERBAIJAN AND ITS IMPACT ONICTINDUCSTRYStudent’s NameCourseTutorUniversityCity (State)Date
2MACROECONOMIC DEVELOPMENT IN AZERBAIJAN AND ITS IMPACT ONICTINDUCSTRYAbstractThe development of ICT in Azerbaijan have been one of the revelations iN a country that hav been known to manly depend on oil and gasexportation. The ICT industryy is mainly supported by the government and is implemented by the modernization of various infrastructures. These areprojects that are notably supported by because of the employment opportunities thathey create for the members of the country. The role played by the macro economic factors are crucial especially in a country that massively depends on the exportation of oil and natural gas. The consumption of oil in the market stimulates a massive production and is a key factor that helps inthe development and growth of the economy. Apart from this, the economic and political issues that affect the market are also significant factors towards the formation of a massive base in the businesses that are related to information communication and technology. Development strategies in ICT are also determined by the qualitative and quantitative indicators in the market. This paper looks at macroeconomic development and how it affects the information technology and communication industry. the industry that is used in this paper is the ICT industry. Some of the macroeconomic developments On Demand-supply revenues as well as issues of elasticities within the industryare analysed as well. Keywords: Azerbaijan, information communication and technology, ICT industry, oil production,gas production, natural gas, business development, gross domestic product,
3IntoroductionAfter the country went through an election in the year 2018, the Azerbaijan government have undergone numerous changes that have proven to be significant to the country. Politically, ithas made changes such as having a new prime minister and giving appointments to various significant ministries such as agriculture, development, tax reforms and education (Ng, and Tan, 2018,e12027).one industry that have en affected maely by these changes is the ICT industry. Changes have also been witnessed in sectors such as energy, environment, and exports and eimports. The new government of Azerbaijan have continued to make reforms in the key sectors so as to recover the economic growth that the country can potentially produce. The acceleration of the domestic growth is supported by the stable oil supplier production together with increasingdemand for domestic products. The gross domestic product has expanded by 1.4 by the year 2018. All these economic factors are gearedtowars finding a stale growth in the conomy. Even though the production of oil has regressed, there are other sectors such as hydrocarbons that haveposted significant growth of about 1.1 was sent because of the high export nature of the natural

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Term
Fall
Professor
Agnes shark

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