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Chamber of Auditors: Azerbaijan expanding transparency in economy 

Transparency and accountability are the basis for stable and rapidly developing economy, Chairman of the Azerbaijan Chamber of Auditors Vahid Novruzov told Trend.

Novruzov stressed that Azerbaijani President Ilham Aliyev pays special attention to ensuring transparency in the economy.

“This is not coincidence because world practice shows that only transparent economy can be sustainable, develop rapidly and actively attract foreign investments,” he added. “Without transparency, neither investors nor local entrepreneurs will be interested in investing in the economy.”

“The systematic work has been recently carried out in the country in expanding transparency in the economy,” Novruzov said. “Many decrees, orders, state programs have been recently signed in this direction.”

“Amid high transparency, entrepreneurs’ faith in the country’s economy and its financial system is growing,” he said. “This issue has been also reflected in strategic roadmaps. For example, if we do not register trade, the shadow economy will grow. This, in turn, can slow down sustainability and economic development.”      Continue Reading