Former US ambassador: Changes can be impetus for accelerating economic reforms in Azerbaijan

"Last week’s changes in the top of Azerbaijan’s Economic Ministry can be impetus for advancing and accelerating the economic reforms Azerbaijan needs," former US President Robert Cekuta said in his article published in Caspian Policy, Report informs.

Last week, Minister Shahin Mustafayev moved up to a deputy prime minister slot and Tax Minister Mikayil Jabbarov assumed the Economic Ministry portfolio while keeping responsibility for tax collection and policy.

"These personnel changes come at the same time Azerbaijani President Ilham Aliyev publicly announced that those in the government over age 70 should step aside to make room for younger faces and new ideas," Cekuta said.

The former noted that 'while enjoying important oil and gas reserves that supply the bulk of its foreign exchange and government revenues, Azerbaijan has needed to diversify its economy for its long-term prosperity and development'.

"The decisions regarding economic reforms are Azerbaijan’s. Last week’s personnel changes are hopefully a sign that the country will pick up the pace of reforms, taking on steps such as improving the protection of intellectual property, strengthening transparency, improving the rule of law and fighting corruption.

Like other countries in the Caspian region, Azerbaijan faces numerous economic challenges. That said, it has the means to take on its shadow economy, to double down in combatting corruption, to pull back on unnecessary government intervention in economic activities, and to strengthen the rule of law and take other steps to foster entrepreneurship, job creation, and greater prosperity."