Bank Of Baku

Actual economic risks for Azerbaijan made public

Actual economic risks for Azerbaijan made public
# 11 March 2011 11:02 (UTC +04:00)
Baku. Ali Ahmedov – APA-Economics. Several current risks in world economy are actual for Azerbaijan, too and these are related to food safety, currency policy and energy safety, said Isa Aliyev, Director of Institute of Economy, Azerbaijani National Academy of Sciences (ANAS).

According to him, food shortage in world countries actualized the food safety: “Because of we can not provide ourselves with food”.

“One of the important risks for Azerbaijan is related to position of USD at the world market and decrease of its rate. Currency stocks were placed in dollar in Azerbaijan. Decrease of dollar at world market can create problems for Azerbaijan. The other issue which can influence Azerbaijan’s economy is that the Chinese Yuan may enter the leading currency list”.

Other risky issue for Azerbaijan is power supply. Other countries also feel this due to rising of oil price: “Azerbaijan has its own oil but this will come to an end in the future. According to calculations, If Azerbaijan quickly gets industrialized, domestic energy needs will double”.
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