THE OIL FACTOR IN ECONOMIC GROWTH

Abstract

The article evaluates the role of the oil factor in the development of the economy of Azerbaijan in the last 20-25 years. The structuring importance of the oil factor at different stages in the formation and rapid growth of the national economy and its role in the sustainability of growth are interpreted with reasonable arguments. One of the most important conclusions drawn by the author in the article is that the economic potential created by the realization of a well-thought-out oil strategy eliminates the possibility of negative trends in the national economy in the near future. Keywords: oil, economic growth, sustainable development, investment, real sector