Azerbaijan sets up four working groups to fight coronavirus
BAKU, Azerbaijan, March 19
Four working groups were set up in accordance with the decree signed on March 19 by Azerbaijan’s President Ilham Aliyev on a number of measures to reduce the negative consequences of coronavirus (COVID-19) pandemic and the impact of volatility caused by this infection in the world energy and ￼stock markets on Azerbaijan’s economy, macroeconomic stability, employment and business entities in the country.
The working group set up to assess the impact of the pandemic on Azerbaijan’s economy, should approve the relevant criteria for determining the list of sectors of economic activity that may be affected by the pandemic, legal entities and individuals engaged in entrepreneurial activities without registration as a legal entity, to prepare relevant proposals in order to reduce the negative impact of the pandemic on the country's business environment in the near and medium terms, as well as to support the continuation of economic growth in the country during this period. It must determine the amount of the presumed damage to legal entities and individuals and submit it to the Cabinet of Ministers.
The working group created under the leadership of the finance minister has been tasked with preparing and submitting to the Cabinet of Ministers relevant proposals on state support for economic sectors, legal entities and individuals engaged in entrepreneurial activities that may be affected by the pandemic.
The working group, created under the leadership of the Minister of Labor and Social Protection of the Population, shall submit proposals to the Cabinet of Ministers on social protection of employees and providing them with state support, strengthening employment measures in the short and medium term, strengthening social protection of low-income population in connection with the problems indicated in the decree.
The working group, created under the leadership of Central Bank chairman, was tasked with assessing the possible negative impact of the pandemic on the banking sector and the macroeconomic environment of Azerbaijan, preparing and submitting proposals to the Cabinet of Ministers on additional measures that should be implemented to maintain macroeconomic stability in the country, support the manat rate and consumer prices.