Lecture notes_Strategic Road Map.docx

Energy security of europe development of transport

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Energy security of Europe; Development of transport and logistic corridors The geographic location of Azerbaijan is favorable and has been part of historical Silk Road. This is fully safe, secure and economically viable among all existing and prospective transit trade routes that transverse Eurasia. The country is now set to emerge as a flobal transport hub.hence, there is an essential need for the global business community to engage with and support Azerbaijan to increase the existing volume and diversity of trade between different countries in Europe and Asia. New job generatrion- support for employment, professional trainings for the workforce and adaptation to new economic challenges, improve housing provision, provision of education and health services, transition from targeted social assitance to rehabilitation; Expansion of market access, trade infrastructure improvements and strengthened trade openness coordinated with the domestic protection polciy; Decreased oil price dependence of the national economy, state budget and the exchnage rate; Golden rule if SOFAZ transfers to the state budget will be aligned with sustainable development needs. Long term outlook up to 2025 Long-term outlook up to 2025 is to achieve a strengthened competition capacity through value added under usefull cooperation among all components of Azerbijani economy, which has embarked on sustainable development. Development of free competition environment;
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Integration to global and regional value chains Protection of macroeconomic stability – fiscal rule to keep debt level harmonized with the sustainavle potential growth; Manat will continue to be a floating currency – facilitate forecasting macroeconomic environment, transparency for local and international investors, support FDI and stable trade flows, more stable and forecasted inflation environement which also will enable households to entrust their savings to the bank sector and thus provide support to financial stability, decreased volatility of manat, decreased investment risk and risk premium; Stability and liquidity of financial sector will be fully maintained till 2025 in order to support sound fiscal and monetary governance – it requires better liquidity of governmen’s bonds and other securities in free circulation so as to attract more local creditors and credit seekers. This will provide more opportunities for manat denominate investments. i. Because of the peg, the manat money market did not develop meaningfully. There was little need for the government and other stakeholders to finance its liquidity shortages on the local market, as long as oil-driven forex inflows were so favorable. Till the end 2025 Azerbaijan will develop a competitive environment through creating conditions for investments, integration to global value chains, and achieving global standards for business transactions.
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