A political observer of Zerkalo daily believes oil to be the main component of Azeri economy, determining the ups and downs of the country’s GDP.

As Rauf Mirkadyrov stated at Caucasus 2011 Yerevan-hosted conference, with certain a petrodollar-based reserve formed, Azeri government itself invests in the country’s economy.

The situation above leads to monopolization of the economy, with major as well as medium businesses centered in the hands of several individuals,” the expert said.