FACTORS OF FORMATION OF THE MIDDLE CLASS AND ITS SIGNIFICANCE

Abstract

The article substantiates the need to study the conditions for the formation of the middle class. Various approaches to assessing the middle class, the factors of formation and its significance are considered. Representatives of this class are the driving force in addressing important issues such as increasing employment, creating new business areas, improving infrastructure, creating an attractive environment for mobilizing new resources, and ensuring sustainable and proportionate economic development over the long term. The article reveals and analyzes the content of the factors influencing the formation of the middle class and determines the levels of their impact.
The article is based on research methods such as scientific systematic analysis and logical generalization. As a result of the work, the factors of the formation of the middle class and its significance were analyzed, the most modern approaches and the main innovative directions were identified. Limitations: limited access to information in some cases and the need to obtain more detailed and reliable information. Practical significance: the article can be considered important for domestic and foreign scientific researchers, as well as contributing to the policy of the Government of Azerbaijan on the formation of the middle class and its relationship to sustainable development. Scientific novelty and originality of the article: a different approach to the factors influencing the formation of the middle class and its importance in sustainable development. The originality lies in the fact that new ideas and thoughts were also presented in the study.