Azerbaijan has not only tripled its per capita income over the past 30 years, but has also accumulated reserves properly, Tim Cheston, Chief Manager of the Growth Lab at Harvard University, said at the 1st Azerbaijan International Investment Forum, APA-Economics reports.
Today, the country has one of the lowest public debts in the world, as well as assets of the Oil Fund and the Central Bank amounting to 96% of GDP.
“This is an example for many developing countries. Moreover, new investments have been made. Production of ethylene and propylene polymers has started at the Sumgait Chemical Industrial Park, opening new opportunities in the chemical industry. According to the Economic Complexity Index prepared by Growth Lab, Azerbaijan was the country that made the most progress last year,” Tim Cheston added.
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