A press conference on the results of 2017 was held at the Center for Analysis of Economic Reforms and Communication (CAERC). At the opening, CAERC Executive Director Vüsal Qasımlı congratulated representatives of the media on the occasion of the 31st of December – the Day of Solidarity of World Azerbaijanis – and the upcoming New Year 2018. He emphasized the key role of mass media in accurately conveying the ongoing reform processes to the public and stressed that CAERC considers media organizations its primary partners.

Highlighting President Ilham Aliyev’s characterization of 2017 as a year of deep economic reforms and stabilization, Vüsal Qasımlı noted that the economic crisis is behind, and the economy has entered a new growth cycle:“In 2017, anti-crisis measures were implemented, and simultaneously, reforms continued to establish the new economic model. Infrastructure improvements were made, and social welfare remained a priority. President Aliyev’s successful policy turned the economic crisis into an opportunity for a transition to a new development phase. While GDP had significantly decreased in 2016, 2017 saw a stabilization in growth dynamics, laying the foundation for economic expansion in 2018.”

He also stressed the continuation of economic reforms to improve the business environment in 2017:

• Based on the Law on Suspension of Inspections in the Field of Entrepreneurship (effective from November 1, 2015), inspections in the business sector were suspended for two years. In October 2017, this suspension was extended until 2021.

• Under the May 21, 2016 decree of the President, the State Customs Committee implemented the “Green Corridor” and other release systems, enabling exporters to use them from August 1, 2016.

• The introduction of the “Tax Free” system, adjustments to import tariffs, and simplification of customs declaration rules (Cabinet of Ministers’ decision No. 134, April 10, 2017) further streamlined export processes.

V.Qasımlı highlighted that amendments to the Tax Code in 2017 aimed to create favorable conditions for small and medium-sized enterprises, increase mutual trust between taxpayers and tax authorities, optimize the tax burden, protect taxpayer rights, reduce time losses, ensure transparency, expand the tax base, increase cashless transactions, regulate monetary circulation, enhance bank liquidity, attract investments, stimulate exports, and improve accountability.

Additionally, changes to the Law on Public Procurement in January 2017 introduced a 20% preference for local companies.

President Aliyev also approved provisions guaranteeing loans taken in manat by entrepreneurs and subsidizing calculated interest rates. The establishment of the Mortgage and Credit Guarantee Fund helps balance the real and financial sectors, share financial risks, strengthen bank resilience, improve financing to the real sector, and expand digital payments. This fosters financial inclusion, supports entrepreneurship, and promotes employment.

In the agricultural sector, state programs were approved for:

• Development of cotton production (2017–2022)

• Development of tobacco cultivation (2017–2021)

• Sericulture and silk production (2018–2025)

Strategic roadmaps now guide the preparation of economic plans, state programs, development concepts, strategies, and action plans.

Regarding institutional reforms, Vüsal Qasımlı emphasized the establishment of the Azerbaijan Industrial Corporation, Food Safety Agency, and Energy Regulatory Agency as crucial measures to ensure the functionality of the new economic model. He also noted major achievements such as the extension of the “Contract of the Century” (Azeri-Chirag-Gunashli fields) until 2050, the opening of the Baku-Tbilisi-Kars railway, and steps toward connecting the Astara-Rasht railway, which significantly improved investment and infrastructure development.

The launch of Azexport.az and the Digital Trade Hub of Azerbaijan contributed to the digitalization of the economy and development of e-commerce, e-banking, and e-services. Export subsidies, investment incentives, industrial parks, agroparks, technoparks, industrial zones, trade houses abroad, trade missions, and participation in exhibitions also increased economic activity, investment, job creation, and production and export of goods and services.

During the conference, Vüsal Qasımlı shared key statistics:

• Non-oil sector growth exceeded 2% in 2017.

• Non-oil industry, agriculture, and tourism drove economic growth.

• Non-oil exports grew by over 20%, the balance of payments recorded a surplus, and strategic foreign exchange reserves increased.

• Measures under the Financial Stability Council stabilized the manat exchange rate.

Thus, 2017 was a year of stabilization, and 2018 is expected to be a year of economic growth.

Finally, Vüsal Qasımlı highlighted that reforms under President Aliyev ensure good governance, market liberalization, and increased productivity. Both the World Bank and the IMF highly evaluate these reforms. Azerbaijan’s rise to 35th place in the Global Competitiveness Report and 57th in the World Bank’s Doing Business 2018 report are direct results of these reforms.

CAERC’s activities in 2017 included active promotion of economic reforms through 14 online platforms (including www.iqtisadiislahat.org, www.ereforms.org, www.ecoreform.az, www.azexport.az, social media pages on Facebook, LinkedIn, Instagram, Twitter, and YouTube). The websites received over 600,000 visits, and the Center had more than 20,000 followers on social media. CAERC sent 226 news releases to the media, published in Azerbaijani, Russian, and English, which resulted in 2,346 news articles online and 368 TV broadcasts based on CAERC materials. Coverage focused on economic reforms, conferences, trainings, Azexport portal, monitoring and evaluation of Strategic Roadmaps, Digital Trade Hub, “Bir Pəncərə” Export Support Center, and Doing Business 2018.

The press conference concluded with Vüsal Qasımlı and department heads answering journalists’ questions regarding ongoing economic reforms and CAERC’s activities.