GALLUP International: Azerbaijan Is among Countries with the Highest Economic Hope Index

GALLUP International: Azerbaijan Is among Countries with the Highest Economic Hope Index

Influential GALLUP International named Azerbaijan as one of the countries with the world's highest index of economic hope among citizens. In the Economic Hope Index, Azerbaijan scored 65 and entered the top 3 countries. The Economic Hope Index is based on the expectations of the country's citizens about the future economic prospects and the results of the survey conducted among them.

Head of the Department of the Center for Analysis of Economic Reforms and Communication Ayaz Museyibov mentions that GALLUP International, which has been functioning since 1947, is the world’s most influential and specialized association on conducting various social surveys and researches. 39 thousand people from 41 countries were involved in surveys of the organizations conducted in November and December. According to the survey results, in 2021, only 25 percent of people living on our planet expect economic development, while 46 percent anticipate problems and difficulties.  Thus, globally the Economic Hope Index fell to 21 points. The attention-getting in the newly published Economic Hope Index was that economic expectations for the future in European countries tend to be negative. In some developed countries such as Great Britain and Italy, economic expectations for the future are reduced sharply. It is connected with Brexit and the pandemic that exacerbated the political and economic situation in these countries. It should be mentioned that the hope for economic revival in the countries of the region has diminished. Thus, in the neighboring Russian Federation, only 6 percent of survey participants expect economic growth in the country, and 46 percent await problems, which demonstrates the most negative indicator registered in the last 23 years.

The Index is considered as a significant indicator that evaluates the opinions of people about the economic future of their countries. However, since the index results are based on social surveys, thoughts of people not only about economic, but also current political, moral, and psychological situation are also taken into account. From this point, high scores of Azerbaijan in the post-conflict period are also connected with the outcomes reached by the military and political settlement of the conflict, lasting for many years, by the President of Azerbaijan.

It should be mentioned that Global Economic Prospects published by the World Bank in January 2020 forecasts 1.9 percent economic growth in Azerbaijan in the current year and 4.5 percent – in 2022. 2.2 billion manat allocation from the 2021 state budget for recovery and reconstruction of Karabakh and infrastructure investments will have a positive impact on the future economic prospects of the country. Also, stabilization of oil prices, the expected tourism boom after the pandemic diminishes, and the increase in the business confidence index will further boost economic development.

Thus, forecasts related to economic indicators, measures planned by the state, and positive feedback from international organizations on the overall economic landscape of the country show that Azerbaijan will achieve higher growth rates in the coming years. It should be noted that in the World Bank Doing Business 2020 report, Azerbaijan ranked among top-ten reformist countries. In the previous year, Azerbaijan's position in other ratings has improved significantly as well.  This year, Azerbaijan ranks 54th among 166 countries in the Sustainable Development Report 2020. Our position in the famous Heritage Foundation's Economic Freedom Index 2020 has improved by 16 steps making our country 44th in the ranking. Azerbaijan has also improved its position in the World Intellectual Property Organization's Global Innovation Index 2020 by 2 points and in the Network Readiness Index 2020 of the Portulans Institute by 4 points ranking 82 and 66, respectively. At the same time, in the current year, Azerbaijan has kept its leading position in the region in accordance with other rankings. For instance, in the Potential Military Strength 2020 report of the Global Firepower, Azerbaijan ranks 64th. Being one of the safest countries, in the Global Terrorism Index 2020, prepared by the Institute for Economics and Peace (IEP Institute), Azerbaijan ranks 112th. Moreover, complying with the Children's Rights Index 2020, published by the Children's Rights Foundation and the Erasmus Rotterdam Institute this year, Azerbaijan ranks 60th. In the International Property Rights Index 2020, published by the Property Rights Alliance, Azerbaijan ranks 67th and significantly gets ahead of other countries in the region.

As can be seen, a successful geoeconomic frame formed by Azerbaijan during many years ensured our country to be the leader in all spheres.

 

 

Font size

A A A

Site color

R R R