An extract on #instasun
The first reports on the richness and diversity of animal life in Azerbaijan can be found in travel notes of Eastern travelers. Animal carvings on architectural monuments, ancient rocks and stones survived up to the present times. The first information on the flora and fauna of Azerbaijan was collected during the visits of naturalists to Azerbaijan in the 17th century.
There are 106 species of mammals, 97 species of fish, 363 species of birds, 10 species of amphibians and 52 species of reptiles which have been recorded and classified in Azerbaijan. The national animal of Azerbaijan is the Karabakh horse, a mountain-steppe racing and riding horse endemic to Azerbaijan. The Karabakh horse has a reputation for its good temper, speed, elegance and intelligence. It is one of the oldest breeds, with ancestry dating to the ancient world. However today the horse is an endangered species.
Azerbaijan's flora consists of more than 4,500 species of higher plants. Due to the unique climate in Azerbaijan, the flora is much richer in the number of species than the flora of the other republics of the South Caucasus. About 67 percent of the species growing in the whole Caucasus can be found in Azerbaijan.
After gaining independence in 1991, Azerbaijan became a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank and the Asian Development Bank. The banking system of Azerbaijan consists of the Central Bank of Azerbaijan, commercial banks and non-banking credit organizations. The National (now Central) Bank was created in 1992 based on the Azerbaijan State Savings Bank, an affiliate of the former State Savings Bank of the USSR. The Central Bank serves as Azerbaijan's central bank, empowered to issue the national currency, the Azerbaijani manat, and to supervise all commercial banks. Two major commercial banks are UniBank and the state-owned International Bank of Azerbaijan, run by Dr. Jahangir Hajiyev.
Pushed up by spending and demand growth, the 2007 Q1 inflation rate reached 16.6%. Nominal incomes and monthly wages climbed 29% and 25% respectively against this figure, but price increases in non-oil industry encouraged inflation. Azerbaijan shows some signs of the so-called "Dutch disease" because of its fast-growing energy sector, which causes inflation and makes non-energy exports more expensive.
In the early 2000s the chronically high inflation was brought under control. This led to the launch of a new currency, the new Azerbaijani manat, on 1 January 2006, to cement the economic reforms and erase the vestiges of an unstable economy.
In 2008, Azerbaijan was cited as one of the top 10 reformers by the World Bank's Doing Business Report.
Azerbaijan led the world as the top reformer in 2007/08, with improvements on seven out of 10 indicators of regulatory reform. Azerbaijan started operating a one-stop shop in January 2008 that halved the time, cost and number of procedures to start a business. Business registrations increased by 40% in the first six months. Azerbaijan also eliminated the minimum loan cutoff of $1,100, more than doubling the number of borrowers covered by the credit registry. Also, taxpayers can now file forms and pay their taxes online. Azerbaijan's extensive reforms moved it far up the ranks, from 97 to 33 in the overall ease of doing business.
Azerbaijan is also ranked 57th in the Global Competitiveness Report for 20102011, above other CIS countries. By 2012 the GDP of Azerbaijan had increased 20-fold from to its 1995 level.