BAKU, Azerbaijan, July 23
By Fidan Babayeva – Trend:
The main goal of Azerbaijan's exit plan from the economic crisis is based on the stable trajectory of the economic growth, an increase in real income of the population based on the use of modern technologies, new opportunities in the labor market, education, fast and high-quality housing construction, Acting Director of the Institute for Scientific Research on Economic Reforms under the Azerbaijani Ministry of Economy Arzu Huseynova told Trend.
“Today, during the spread of the pandemic, it is impossible to accurately assess the scale of the crisis and the period of exiting from it,” acting director added.
"There were a lot of economic crises throughout the history,” Huseynova stressed. “Over the entire history of modern mankind, world economic crises have occurred more than two dozen times. According to the experts, crises are spontaneous in nature, they cannot be predicted and prevented. One period ends with a crisis and the next period begins with a crisis."
"Today, the crisis in Azerbaijan can be described as a decrease in consumer demand, an increase in unemployment and a decrease in investment activity,” Huseynova added. “The crisis period is a period of creative renewal, the result of which must appear through a certain interval."
“If we consider the historical aspect of the development of society, then the only condition for overcoming any crisis was to find a new solution, fundamentally different from the previously existing solution,” acting director said.
"The only way out of the crisis by focusing on the efficiency and competitiveness of the economy whether it be the structures of society, new equipment and technologies, new financial and management tools and other factors is to build up the scientific and technical potential and implement the innovations," Huseynova stressed.
“Today we must focus on the formation of the inclusive and more resilient economy amid the pandemic, climate change and many other global challenges,” the acting director said.
----
Follow the author on Twitter: Fidan_Babaeva