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Azerbaijan has an economy that has completed its post-Soviet transition into a major oil based economy with the completion of the Baku-Tbilisi-Ceyhan Pipelinefrom one where the state played the major role. Azerbaijan's GDP grew The national currency, the Azerbaijani manatwas stable indepreciating 3. The budget deficit equaled 1.

Progress on economic "Aztrank online dating" has generally lagged behind macroeconomic stabilization.

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The government has undertaken regulatory reforms in some areas, including substantial opening of trade policy, but inefficient public administration in which commercial and regulatory interests are co-mingled limit the impact of these reforms. In Augustthe government launched a second-stage privatization program, in which many large state enterprises will be privatized. Aztrank online datingthe economic activity in the country is regulated by the Ministry of Aztrank online dating Development of Azerbaijan Republic.

Through the Soviet period, Azerbaijan had always been more developed industrially than Armenia and Georgia, two neighboring Transcaucasia countries - but also less diversified, as a result of slow investment in non-oil sector. With a history of industrial development of more than years, Azerbaijan proved to be a leading nation in Southern Caucasus throughout the turmoil of Soviet Union collapse in early s until nowadays.

Oil remains the most prominent product of Azerbaijan's economy with cotton, natural gas and agriculture products contributing to its economic growth over the last five years.

People visit petroleum spas or "oil spas" to bathe in the local crude in Naftalan [18] A leading caviar producer and exporter in the past, Azerbaijan's fishing industry today is concentrated on the dwindling stocks of sturgeon and beluga in the Caspian Sea. Azerbaijan shares all the problems of the former Soviet republics in making Aztrank online dating transition from a command to a market economybut its energy resources brighten its long-term prospects.

Azerbaijan has begun making progress on economic reform, and old economic ties and structures are slowly being replaced. An obstacle to economic progress, including stepped up foreign investment, is the continuing conflict with Armenia over the Nagorno-Karabakh region.

InAzerbaijan became member of the Economic Cooperation Organization.

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