BAKU, Azerbaijan, October 2. The Middle Corridor's success will depend on the extent to which businesses perceive it as competitive, reliable, predictable, and worthy of investment, the World Bank’s Regional Director for the South Caucasus, Rolande Pryce, said at the CAMCA 2026 Regional Forum in Baku, Trend's correspondent reports from the event.
“The success of this corridor will depend on whether businesses perceive it as competitive, reliable, predictable, and worthy of investment, and, most importantly, whether people and economies can fully reap the economic benefits and value it provides,” she said.
Pryce noted that practical cooperation within the framework of the Middle Corridor could contribute to the economic development of countries in the region.
She also touched on the macroeconomic situation and fiscal policy in Azerbaijan. “A very stable economic situation, significant financial buffers, low public debt, and prudent fiscal and monetary policies,” Pryce said.
According to her, economic growth in Azerbaijan remains very low. "This reflects a reduction in government capital spending and, consequently, weak growth in the non-oil sector, as well as a decline in hydrocarbon production. Hydrocarbons play a dominant role in Azerbaijan’s economy. GDP growth this year stands at 1.2%. Without reforms that improve the business environment, enhance competition, and promote broader private-sector participation, medium-term growth is expected to remain below 2%,“ Pryce said.
The regional director added that one of the challenges is to transform strong macroeconomic buffers into new sources of investment, diversification, and productivity growth.
