Financial Provision That Determines Sustainable Socio-Economic Growth

The aim of the study is to determine the mathematical structure of the efficiency of financial balance that determines the rate of economic growth in the geopolitical context. The assessment includes income equality and macroeconomic achievements, which have a decisive impact on determining the political and economic progress of the country. Thus, the mathematical description of economic balance is predicted based on the growth rate of gross domestic product. The perspective of our country’s foreign economic relations and the essence of the development of foreign economic relations in the context of the continuous development of geopolitical interests in the world, the increase in foreign investment and the development of foreign economic relations were studied.

Thus, globalization is an objective reality in the current economic conditions. In this context, the diplomatic relations of the post-Soviet countries, as well as the current economic progress of Azerbaijan, and the expansion of economic coverage of the countries of the world are conditioned by the necessity of the current conditions. Various economic mathematical models and economic analysis methods were used. Mainly, the calculation of elasticity coefficients and economic forecast models were applied to determine the macroeconomic effects of the fiscal balance. The study used the dialectical method, analyzing the mutual effects of economic and political processes, comparative, analytical analysis, application of mathematical models, conditions for applying the elasticity coefficients of the price necessity of the fiscal balance and the political-economic equilibrium model.

The research database is based on reports of the State Statistical Committee of Azerbaijan, data from international economic organizations and academic literature. To increase the accuracy of the model, historical data were used and the results were compared with the relevant economic environment.

As is known, foreign economic relations are one of the important criteria in the development of the country’s economy and are one of the factors that drive the growth of gross domestic product (GDP). In this regard, the study attempted to analyze the theoretical methodological foundations of foreign economic relations and the experience of economic development of influential countries of the world.

Keywords: economic growth, financial security in economic growth, financial progress, human well-being, balance that determines human well-being

DOWNLOAD ARTICLE

View