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2008 FINANCIAL CRISIS AND ITS EFFECTS TO AZERBAIJAN
INTERNATIONAL ECONOMICS
RASHIDLI MAMMAD
CONTENTS ABOUT AZERBAIJAN
INTRODUCTION TO CRISIS
AZERBAIJAN AT THE TIME OF CRISIS
IMPACT ON NATIONAL ECONOMY
POST CRISIS PERIOD
SUMMARY
REFERENCES
ABOUT AZERBAIJAN
Capital: Baku
Area: 86,600 km²
Population: 9,686,210 (2014)
Currency: Manat
GDP (PPP): $100.4 billion - 2013
GDP per capita: $10 800- 2013
Industries: petroleum, gas, steel, iron ore, cement
Budget: Revenue: $27.61 billion Expenditure: $27.24 billion
Inflation rate: 2.4% (2013)
Oil and gas pipelines from Azerbaijan
Import partners
Export partners
INTRODUCTION TO CRISIS
Worst financial crisis
Huge impact on sectors
Reasons of crisis
AZERBAIJAN AT THE TIME OF CRISIS
GDP (PPP): $77.61 billion - 2008
GDP per capita: $9000- 2008
Unemployment rate: 3% - 2008; 6% - 2009
Inflation rate: 20.8% - 2008
Foreign direct investment (2008)
OUTFLOWS% of GDP – 9.27
BoP, current US$
- $540,824,00
0.00
INFLOWS% of GDP –
8.16
BoP, current US$ -
$3,986,807,000
IMPACT ON NATIONAL ECONOMY
Oil and gas industry
Real Estate
Currency and Remittances
Banks
Future projects
IMPACT ON NATIONAL ECONOMY
Oil and gas industry
Real Estate
Currency and Remittances
Banks
Future projects
IMPACT ON NATIONAL ECONOMY
Oil and gas industry
Real Estate
Currency and Remittances
Banks
Future projects
IMPACT ON NATIONAL ECONOMY
Oil and gas industry
Real Estate
Currency and Remittances
Banks
Future projects
Government loans
Banks going bankrupt
Some banks survived
IMPACT ON NATIONAL ECONOMY
Oil and gas industry
Real Estate
Currency and Remittances
Banks
Future projects
POST CRISIS PERIOD
Overcoming the crisis
Statistics
Current situation
Control over consumer market
Scheduling and observing economic principles of State Investment Program
Increasing loans to businessmen
Support for agriculture
Budget control
ANTI CRISIS PROGRAM
STRENGHTENING
Lowering the tax
New monetary policy
Maintaining value of national currency
Creating new jobs
NEW MEASURES
POST CRISIS PERIOD
Overcoming the crisis
Statistics
Current situation
GDP (PPP): $100.4 billion – 2013
GDP per capita: $10 800- 2013
Unemployment rate: 5% - 2013
Inflation rate: 2.4% (2013)
Foreign direct investment (2011)
OUTFLOWS% of GDP – 5.60
BoP, current US$
- ($932,582,00
0.00)
INFLOWS% of GDP – 7.7
BoP, current US$ -
$4,485,120,000
POST CRISIS PERIOD
Overcoming the crisis
Statistics
Current situation
SUMMARY
Impact on industries
Overcoming crisis
REFERENCEShttp://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308http://www.iset.ge/files/mammadov__ismayilov__bayramov.pdfhttp://www.unc.edu/home/pconway/dload/Bayramov_Conway_Azerbaija
n.pdfhttp://www.eurasianet.org/departments/insightb/articles/eav120108a.sht
mlhttps://www.cia.gov/library/publications/the-world-factbook/geos/aj.htmlhttp://
www.case-research.eu/sites/default/files/publications/29187964_E-Brief_ChubrikWalewski_6_2010_0.pdf
http://rt.com/business/nabucco-gas-azerbaijan-greece-311/http://www.ca-c.org/c-g/2009/journal_eng/c-g-1/07.shtmlhttp://en.wikipedia.org/wiki/Nabucco_pipelinehttp://www.indexmundi.com/facts/azerbaijan/foreign-direct-investmenthttp://cyberleninka.ru/article/n/azerbaijan-and-the-world-fi
nancial-crisis
THANK YOU FOR ATTENTION!
MAMMAD RASHIDLImrashidli@ibs-b.hu