The dreams that were burned by oil: analysis of the political weight (PW) and government weight (GW) of the Republic of Azerbaijan

International Institute of Khazar Studies (IIKSS) - Azerbaijan can be counted among the countries that after the collapse of the Soviet Union, were moving at a high speed along the path of economic growth and economically turned into a powerful country. This republic is one of the countries having an oil economy and an important part of the state budget of this country is formed from the revenues from the export of oil and gas. On the other hand, the European Union and Turkey also paid special attention to the resources and minerals of this republic and this causes, that we, since 2006 have seen a significant growth of foreign exchange earnings. It can also be noted that this republic has ideas and dreams of becoming a prosperous European country. In fact, in accordance with the territorial and demographic capabilities of this republic, such a dream seems to be justified.

But suddenly we saw that the price of oil in 2005 was facing a catastrophic fall, the consequences of which on economy of Azerbaijan were several times stronger than the Financial Crisis of 2008. On the other hand, this country is facing the Karabakh conflict, which has a negative impact on the political weight and government weight of this Republic.

The following infographic clearly shows the fluctuations in the political weight and government weight of this Republic.

Author: Maysam Araee Daronkola - faculty member of Payame Noor University and director of the International Institute of Khazar Sea Studies (IIKSS)

Translator: Mohsen Hamidi - expert and member of the Scientific Council of the International Institute of Khazar Sea Studies (IIKSS)