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AZERBAIJAN’S ECONOMIC SECURITY IN THE CONTEXT OF GLOBALIZATION

17.12.2019 22:47

[Секция 10. Мировая экономика и международные экономические отношения]

Автор: Гулієва Фаріда Расімівна, студентка 4-го курсу історичного факультету, Запорізького національного університету


The problem of economic security of the Azerbaijan Republic is an important premise for the development of a sovereign country. Accordingly, economic security plays a key role in providing economic sovereignty and development, the implementation of social policy, the prevention of natural disasters, and improving the competitiveness of the national economy in the face of internal and external shocks and imbalances.

The economy of the CIS (Commonwealth of Independent States) countries, including Azerbaijan, is completely different from the capitalist economy. The fact is that the former USSR countries that stepped into the market economy lost their scientific potential, a huge mass of skilled workers and slipped to the level of the 50-60s of the last century. All CIS countries, like the Republic of Azerbaijan, have turned into suppliers of raw materials. The export level in these countries is 92–97% due to the export of oil and gas [5]. All other industries in which competitive products are not produced have almost ceased to exist, and therefore, without the state's innovation policy, there can be no talk of ensuring economic security.

By the order of the Azerbaijan President dated May 23, 2007 (No. 2198), the "Concept of National Security of Azerbaijan" was approved [1]. It sets out the goals, principles and measures aimed at protecting the individuals, society and the state from internal and external threats, its territorial integrity and democratic development path, integration into the Euro-Atlantic space.

A potential threat to Azerbaijan’s economic security is a degraded export structure, more than 90% of which is crude oil and oil products. Since prices for hydrocarbon resources are volatile, as evidenced by the drop in world oil prices in 2015-2016, this poses a serious danger to a country whose balance of payments depends on oil and gas revenues [4]. Factors that negatively affect the balance of payments of Azerbaijan also include low quality and competitiveness in the world and domestic market of products produced in the country, which leads to the satisfaction of the population’s needs through imported products.

The main efforts of the Government are aimed at improving the investment climate in the country, which plays an important role in ensuring the sustainable development of Azerbaijan. On January 18, 2016, the President of Azerbaijan Ilham Aliyev issued a Decree “On additional measures to encourage investment”, in accordance with which the procedure for issuing a document on investment promotion was approved [2]. To attract foreign investment, it should be used the mechanism of creating free economic zones, expand the activities of technology parks, business incubators, industrial parks in the country.

Another area of ensuring the economic security of the country is the promotion of small and medium-sized enterprises, the removal of obstacles to business development. In order to develop the entrepreneurial sphere, it is necessary to revise the legislative framework in the direction of providing tax incentives to start-up entrepreneurs, increase the volume of soft loans provided by the National Fund for Supporting Entrepreneurship, issue microloans to small businesses, to facilitate administrative procedures and inspections related to entrepreneurial activity.

In order to ensure food security, support is needed for the agricultural sector. To address these issues at the government level, a state strategy has been developed aimed at import substitution of agricultural products and the attraction of modern technologies. In order to support agriculture, subsidies and soft loans are provided. From the point of view of ensuring food security, the development of the agricultural sector of Azerbaijan is estimated by experts at the average level. Azerbaijan is considered a country with huge potential in this area. Further development of the agricultural sector is a priority for the post-oil era of Azerbaijan.

In conclusion, the most important principle of the state economic policy is the sustainability of the country's economic development. To achieve sustainable development, it is necessary to overcome the high dependence of exports and the budget on oil prices. In order to ensure economic security, the priority directions of the country's development are accelerating structural transformations, diversifying the national economy of Azerbaijan, improving the business environment, strengthening the banking system and attracting foreign investment in the non-oil sector.

References:

1. “Azərbaycan Respublikasının Milli Təhlükəsizlik Konsepsiyasının təsdiq edilməsi haqqında” Azərbaycan Respublikası Prezidentinin Sərəncamı. Bakı, 23 may 2007-ci il. URL: http://www.e-qanun.az/publication/1/2007/05

2. Azərbaycan Respublikasının Prezidenti İlham Əliyev “İnvestisiyaların təşviqi ilə bağlı əlavə tədbirlər haqqında” 2016-cı il 18 yanvar. URL: http://www.yap.org.az/az/view/news/15177/prezident-ilham-eliyev-investisiyalarin-teshviqi-ile-bagli-elave-tedbirler-haqqinda-fermanda-deyishiklikler-edilmesi-barede-ferman-imzaladi

3. Eyvazov E.T. Maliyyə sektorunda Azərbaycanın iqtisadi təhlükəsizliyinin təmin edilməsi. Baki: İqtisadi Elm, 2012, S. 51-53.

4. Əliyev A.B. Beynəlxalq iqtisadi təhlükəsizlik Azərbaycan Respublikasının xarici iqtisadi siyasətinin ən vacib komponenti kimi. Baki, 2012 üçün №16 (214),    S. 123-128.

5. Əliyev A.B. Müasir şəraitdə Azərbaycan Respublikasının iqtisadi və milli təhlükəsizliyi problemləri. Bakı: Təhsil, 2010. 298 s.

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Науковий керівник: Кайнара Д.О., кандидат економічних наук, Запорізький національний університет



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