BAKU, Azerbaijan, June 11. The model that has brought success to Azerbaijan over the past decades is based on directing additional revenues primarily into reserves, Azerbaijan’s Minister of Economy Mikayil Jabbarov said in an exclusive interview with AZERTAC and İTV.
Noting that the liberated territories are a very good example of this approach, he said: “These reserves—the reserves of the Oil Fund and the Central Bank—and shock-absorbing mechanisms, in turn, serve to ensure macroeconomic and macro-fiscal stability.
For the state budget, they represent a completely new and
large-scale area of investment and expenditure. However, from an
economic perspective, we do not view them as expenses, but rather
as investments. Because in the long term, this investment will
serve the return of our citizens, the restoration of economic
activity, and the rehabilitation of the territories.”
