DOI https://doi.org/10.36719/3104-4727/5/4-15

Vahid Amrahov

Azerbaijan State Agrarian University

PhD in Economics

https://orcid.org/0000-0002-6401-8467

amrahovvt@gmail.com

Assessment of the Possibilities for Improving the Financial

Potential of the Azerbaijani Economy

Abstract

The article examines the possibilities of improving the financial potential of the Azerbaijani economy. It was determined that the increase in gross domestic product, population income, and bank deposits plays a fundamental role in improving the financial potential.

In the article, the impact of factors such as gross domestic product (GDP), population income and bank deposits, investment allocations, and credit on state budget revenues, which are the main indicators of financial potential, was quantitatively evaluated using a linear multivariate regression model. The calculation revealed that there is a high correlation between the volume of state budget revenues and GDP, population income and bank deposits, as well as the amount of investment and credit. Such a situation is ultimately characterized by a significant impact on the financial potential of the country's economy. The results of the study on identifying opportunities for improving the financial potential of the economy show that such an approach can help predict the development prospects of financial potential, assess resource capabilities and ensure their more efficient use. The results of the study on identifying opportunities for improving the financial potential of the economy show that such an approach can help predict the development prospects of financial potential, assess resource capabilities and ensure their more efficient use.

Keywords: financial potential, sustainable economic development, financial stability, investment opportunities, economic policy, financial resources, competitiveness