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Azerbaijan to work over economic recovery in 2021

Finance Materials 30 December 2020 20:47 (UTC +04:00)
Azerbaijan to work over economic recovery in 2021

BAKU, Azerbaijan, Dec. 30

By Fidan Babayeva - Trend:

A lot of work will be conducted in Azerbaijan in 2021 to restore economic activity and return the population to the territories liberated from the Armenian occupation, Executive Director of the Azerbaijani Center for Analysis of Economic Reforms and Communication Vusal Gasimli said.

Gasimli was speaking about the economic and social results of 2020, Trend reports.

“The state budget for 2021 will cover reconstruction and support for Azerbaijan's economic growth,” the executive director added.

“During the COVID-19 pandemic, despite the decline in such sectors as tourism, catering, construction, and oil production, there was growth in the non-oil industry, production, distribution and supply of electricity, gas and steam, agriculture, information and communications,” Gasimli said.

"In general, the economic support measures taken by the government during the pandemic, as well as the reforms carried out in recent years to improve the favorable business environment, will contribute to the recovery process in 2021 in some lagging sectors of the economy," Gasimli stressed.

The executive director stressed that restoration work was launched in 2020 in the Azerbaijani territories liberated from occupation.

"There was a decrease in investments in fixed assets through the internal sources and an increase in investments through the external sources in 2020,” Gasimli added. “The main goal is to increase investments in accordance with the goal of doubling the Azerbaijani economy in the next 10 years."

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