BAKU, Azerbaijan, Mar. 12
By Eldar Janashvili - Trend:
The Azerbaijani government has defined the tasks for the full implementation of the state budget, optimization and efficient use of costs, Vusal Gasimli, Executive Director of Azerbaijan’s Center for Analysis of Economic Reforms and Communication (CAERC) said, Trend reports referring to the CAERC.
Gasimli said that in particular, full implementation of social programs has been taken under control, within the framework of which such projects as targeted social assistance, community service, self-employment, rental housing, compulsory health insurance and social mortgage will be fully implemented.
Government measures also include supporting areas that are undergoing major damage from the impact of the global crisis, the executive director added.
“In particular, the support of the tourism sector, which brings highest income to Azerbaijan after oil, is on the agenda. For development of economy, sustainability of systemically important enterprises will be ensured. Predicted scenarios of the impact of oil prices to the balance of payments have been prepared to maintain it at the proper level. Collaboration with the private sector, civil society, and international institutions to increase the effectiveness of government anti-antibiotic measures is also on the agenda,” Gasimli noted.
Gasimli also said that social expenditures of the state budget are predicted to be at around 10.4 billion manat ($6.1 billion) in 2020, which is 2.6 billion manat ($1.5 billion), or 33.5 percent, more compared to 2019.
CAERC Executive Director said that according to the recommendation of President Ilham Aliyev, the private sector should also be active in preserving existing jobs and opening new ones. Accordingly, measures to support small and medium-sized enterprises on a larger scale and increase investment in the country are specifically aimed at ensuring sustainability of economic growth, noting that in the first two months of 2020, funds allocated for fixed assets increased by 12.7 percent.
(1 USD = 1.7 AZN on March 12)
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