After the independence the transformation process which Azerbaijan experienced and the point arrived today

iiiABSTRACTAzerbaijan economy came across very huge economic depression because of the seperationfrom Soviet Union in 1990 and independence in 1991. In the beginning years of theindependence, the economic crisis which covered whole economy shrank the growth and on theeconomic indicators decrasing was observed. As a result of looking for new remedies foreconomic problems, Azerbaijan economy started to grow again after 1996. To sign agreementswith multi national companies provided Azerbaijan oil to reach world market and made itpossible to gain important interets for country by building trade co-operation. Then especiallyagreements with international financial institutions, infliation was controlled widely and achievedthe macro-economic stability. Today Azerbaijan is in a position of a country which is aiming togain %20 growth rate for many subsequent years, especially because of marketing its oil to worldmarkets by Baku-Tiflis-Ceyhan pipeline. Furthermore, with the income that is earned from oilsector Azerbaycan aims to find remedy for harfmul effects of ?Holland Syndrome?, and as aresult of this purpose; improving non-oil sectors-arranged a source of reserve named by ?OilFund?. Because of macro-economic stability that economy has reached, Azerbaijan governmentdecided the denomination of the national currency after 2006 and permanent stability ofexchange rates.