Alternative Development Strategies for the Azerbaijan Economy

11 Pages Posted: 9 Nov 2012 Last revised: 4 Dec 2012

See all articles by Elchin Suleymanov

Elchin Suleymanov

Baku Engineering University - Department of Finance

Date Written: May 24, 2012


Paying attention to the last prognosis indicators, we’ll see that, in its payment period in the result of exploitation of the pipe pump BTC forming a part of "Agreement of the Century" signed on September 20, in 1994, in 2008-2015 years the incomes is expected to be 35-42 billion USD. If one barrel of oil is 30-60 dollar till the last period of the project, exactly till 2029-2030 years, the total income amount taking from this area is expected to be in the amount of 120-140 billion USD.

The use of oil incomes indicating with the big figures is more important and actual than getting them. Taking into consideration of the not finding of the new oil deposits in our republic in 1940-1960 years, and taking into consideration of oil being the finishing riches that, our aim is to vivify the areas with development potential in correct and expedient form each oil manta entering to our budget nowadays.

Keywords: Azerbaijan Economy, Oil, GDP

JEL Classification: N50

Suggested Citation

Suleymanov, Elchin, Alternative Development Strategies for the Azerbaijan Economy (May 24, 2012). Available at SSRN: or

Elchin Suleymanov (Contact Author)

Baku Engineering University - Department of Finance ( email )

Baku Sumgait Road 16th km. Hasan Aliyev Str. 120
Baku, AZ0101


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