The Role of Effective Energy Production in Strengthening Public Finance of Azerbaijan: Strategies in the Transition to a Green Economy
Year: 2024
Type: article
Abstract: In Azerbaijan's transition to a green economy, dependence on quality fuels presents both challenges and opportunities. This paper examines the potential to strengthen public finances by improving production efficiency in the country's energy sector. In addition to reducing operating costs and improving energy efficiency, energy efficiency is also important for long-term fiscal stability and budget sustainability. The introduction of efficiency technologies in Azerbaijan's oil and gas sector is important. Upgrading infrastructure, especially in sectors such as refining and construction, can reduce domestic energy consumption and reduce the country's dependence on volatility in global energy markets. In addition, the development of renewable resources such as solar and wind energy offers new sources of financing and energy security. The paper also discusses the financial implications of energy efficiency measures and the importance of policy reforms and public-private partnerships to support this transition. It is emphasized that energy-efficient production plays a crucial role in the transition of Azerbaijan's economy to a green economy and in strengthening public finances.
Source: Elmi Əsərlər
DOI: 10.61413/jpjw3136
Author: Roya Mammadali Amirova
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4405832062