Browsing documents with the theme of Azerbaijan
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Smart Tech in the Caucasus
This is the first in a series of introductions to Smart City programs, which have been launched, or which are planned, across the CIS-Eurasia region. Other reports in the series will look separately at programs in Belarus, Ukraine, and Russia, and also across the Central Asia region. These reports aim only to provide an overview of existing smart city and technology projects and of current and future State plans for developing “e-” and technology projects in each of the countries across the region.
Azerbaijan Country Profile
Dependent on hydrocarbons. Azerbaijan’s budget and economy are highly dependent on oil and gas exports to the European Union, Turkey and CIS states. Energy exports account for almost 95% of total exports, or approximately 45% of GDP and 70% of budget revenues. Hydrocarbons have sustained growth and wealth. Exposure to hydrocarbons has helped sustain real GDP growth over the past five years, maintained external sovereign debt/GDP below 15%, and helped Azerbaijan create a sovereign wealth fund (SOFAZ) of over US$37 bln. Some sectors of the economy, such as the consumer ones, have benefitted greatly from the trickledown effect of oil wealth and state budget spending.