Research Information System
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.512-527
Article discusses the features of the use of financial resources in economic development at the present stage of development in Azerbaijan. Based on the lessons of world practice and the success of the financial policy pursued in Azerbaijan and studying the benefits of using oil revenues, the author found it extremely important to create a competitive environment in the national economy in conditions of high incomes. It has been established that the effectiveness of budget revenues should be the main goal of economic policy. In general, the article presents a systematic assessment of economic growth observed in recent years in Azerbaijan, including the rationalization of the aggregate structure of demand and payments, the balance of tax burden, budget deficit and inflation and, as a result, the sustainability of economic development. One of the important features of the modern stage of the world economy is the comprehensive nature of the problem of increasing the effectiveness of economic policy against the background of the trend of economic recovery. In our opinion, the main reason for this is the contrast current stage of economic development in the world. The fact is that the achievement of a new qualitative stage of development on the whole justified the actual rapprochement of traditional and axiomatic considerations as the basis of the humanitarian and social nature of economic activity.