Increase in the use of electronic means of payment in Azerbaijan added 70 million USD to GDP and contributed to the growth in consumer spending by 0.06% on average per year between 2011 and 2015.
Report informs referring to the results of research conducted by Moody’s Analytics, which analyzed the impact of electronic payments on economic growth in 70 countries.
According to the study, the development of cashless payments also contributed to the creation of an average of 1 130 new jobs annually: “Azerbaijan occupies the 4th place in the ranking of creation new jobs.”
The highest GDP growth recorded in the countries where during the analyzed period was marked the maximum level of use of payment cards.
Azerbaijan ranked third by using the cards among the CIS countries with the indicator of 0.03%.
