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Digitalization - driver of Azerbaijan’s economic growth

Commentary Materials 5 July 2020 11:30 (UTC +04:00)
Digitalization - driver of Azerbaijan’s economic growth

BAKU, Azerbaijan, July 5

By Fidan Babayeva - Trend:

Presently, Azerbaijan’s economic growth is primarily associated with digitalization in almost all sectors of the economy, Acting Director of the Institute for Scientific Research on Economic Reforms under the Azerbaijani Ministry of Economy Arzu Huseynova told Trend.

“Digitalization concerns the field of education, information and communication technologies and many other spheres,” Huseynova added.

"Today it is too early to talk about the post-pandemic period as we are still at the stage of spreading pandemic,” acting director of the institute added. “The action plan approved by the Cabinet of Ministers on April 4, 2020 to implement paragraph 10.2 of the Azerbaijani president’s decree dated March 19, 2020 covers three spheres, namely, support for economic growth and entrepreneurship, employment and social security, macroeconomics and financial stability."

As for the development of Azerbaijan’s economic growth during the pandemic, Huseynova stressed that the main factor of the growth is the development of the non-oil sector.

"Other factors that will stimulate the economic growth in the post-pandemic period are maintaining of macroeconomic stability, support for entrepreneurship and attracting of foreign investments to the country," acting director of the institute said.

Huseynova emphasized that construction sector, mining industry, petrochemical industry, digital economy, transport, trade, logistics, telecommunications, domestic tourism, agriculture and processing industry will be the main priorities of the country’s economic policy.

Twitter: Fidan_Babaeva

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