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By Trend

Center for Analysis of Economic Reforms and Communications (CAERC) in Azerbaijan, supported with the Asian Development Bank (ADB), SECO, the World Bank and the International Monetary Fund (IMF), opened Economic Analysis Laboratory (EconLAB) in 2020, Head of the center’s Communications Department Zanura Talibova said, Trend reports.

According to Talibova, the laboratory has created a preliminary version of 5 econometric models designed to conduct analyzes at the macro and micro levels.

“To calculate the economic losses of Armenia from the 44-day war (from late Sept. through early Nov.) against Azerbaijan in 2020, a 4x4 General Equilibrium Model was built, and the impact of the war on macroeconomic indicators and on the main sectors of the economy of this country is estimated,” she noted. “Besides, a ‘cost-benefit’ model has been modified to measure the short-term impact of recovering trade and transport-communication links with Armenia on Azerbaijan's economy. Also, data were presented taking into account the economic damage caused by Armenia to Azerbaijan as a result of the occupation of Azerbaijan's territories for 30 years.”

The department head further said that the Center for Analysis of Economic Reforms and Communications, based on economic reports from the IMF, the Index of Economic Freedom and the World Tourism Organization, conducted analyzes and made proposals.

“On the basis of the financial programming model, a study was carried out to calculate the ‘fiscal multiplier’ for Azerbaijan, and income and social package were analyzed. An analysis was also made of budget expenditures on capital investments and the growth rate of the construction sector,” added Talibova.

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