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Azerbaijani economy ready for post-pandemic period

Economy Materials 21 May 2020 17:25 (UTC +04:00)
Azerbaijani economy ready for post-pandemic period

BAKU, Azerbaijan, May 21

By Fidan Babayeva - Trend:

A new economic environment is inevitable in the post-pandemic period in Azerbaijan, Ruslan Atakishiyev, chairman of the Azerbaijani Center for Study of Economic Resources, said in an interview with Trend.

"The government has already prepared the measures necessary for the development of the country's economy for the post-pandemic period," the chairman stressed.

“The coronavirus pandemic caused a number of problems to the global economy in 2020,” Atakishiyev said. “This situation also covered Azerbaijan. An increase in the costs for the healthcare sector, a decrease in tax and export revenues, capital outflows, a decline in business activity and other big problems were observed.”

"At the same time, the unemployment rate in Europe from February through March rose by 0.1 percentage points to 7.4 percent,” the chairman added. “The unemployment rate also increased by 0.1 points to 6.6 percent in 27 EU countries."

“Our country will strengthen fight against corruption, accelerate creation of a transparent business system, increase level of management in the local executive branch, development of regional economy, take other special measures for restoration and development of economy,” Atakishiyev added. “This statement was made at the meetings of the Azerbaijani president with the minister of economy, minister of labor and social protection of the population in March and April 2020.”

“It becomes clear that Azerbaijan is ready for decisive actions to achieve its goals,” the chairman added.

A new plan is also planned to be developed to improve the investment climate in Azerbaijan.

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