OREANDA-NEWS. December 1, 2011. The Central Bank of Azerbaijan (the CBA is searching for new model of the country economy’s development and intellectual mobilization process in the country.

Today at the IV International Banking Conference in Baku Director of Research and Development Centre under the CBA Emin Huseynov has informed that in response to financial crisis’s new challenge the CBA has determined new priorities of strategic activity on strengthening economic and human capital development support.

"On the whole prospect for 2012 is encouraging but rising inflation rates, reduction of economic growth paces, economy’s dependence on oil and gas sector on the background of stock prices volatility , instability of world economy still pose macroeconomic risks for national economy. All this demands additional coordinated efforts of monetary and fiscal bodies. Modernization and stable growth challenges the country faces make actual specific tasks for bank sector. The task is financing of the country modernization and in order to fulfill it the banks should undergo modernization, accumulate sufficient volume of assets and improve corporate governance ", - E. Huseynov said.