Mikayil Jabbarov: "Pandemic and restrictions have serious impact on Azerbaijan’s economy"

Mikayil Jabbarov: "Pandemic and restrictions have serious impact on Azerbaijan’s economy"
  • Clock-gray 16:40
  • calendar-gray 30 June 2020

The stagnation on the world energy and stock markets, the restrictions applied due to the coronavirus pandemic and the newly emerged challenges haven’t passed without impact on the national economy, said the minister of Economy Mikayil Jabbarov at the briefing held by him today, "APA-Economics" reports.

The minister said as a result of the negative impacts of the pandemic and the instability of the oil price, the economic activeness has reduced, the economic balance has been violated, the applied restrictions have caused breaks in the production-processing-consumption chain. However, despite of the stagnation observed in the economy, no situation has developed that could take the national economy to recession.

The minister noted that currently, based on the initiative and the instructions of the head of the state Ilham Aliyev, the government implements measures to minimize the damages caused to the national economy. By means of the implemented programs, the state tries to help the business sector in escaping the existing situation with less losses.

Huseyn Veliyev

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