Minister of Economy of Azerbaijan: “Exchange rate is completely stable, foreign and domestic public debt have not increased"

Minister of Economy of Azerbaijan: “Exchange rate is completely stable, foreign and domestic public debt have not increased"
  • Clock-gray 18:15
  • calendar-gray 06 August 2020

“At the beginning of March of the current year, shocks caused by the coronavirus in world energy markets, have made necessary a new economic landscape. By your relevant order, the instruction has been given to develop short-term and medium-term Action Plan of the country's economy. On March 31, while at your reception, the program of the working group on the economy has been presented. On April 4, by your instruction, a relevant Action plan by Prime Minister has been approved. Today, I can reports that as a result of works done, macroeconomic stability has been maintained in the country, budget revenues have been completely implemented in the period of January-July.”, said Minister of the Economy of the Republic of Azerbaijan Mikayil Jabbarov at the meeting in a video format held by the President of the Republic of Azerbaijan Ilham Aliyev on measures taken in our country in the field of fight against coronavirus, and socio-economic situation, on August 6, APA reports.

The minister noted that the exchange rate is completely stable: “The stability of prices, foreign exchange reserves of the country have been maintained, even have been increased more. The number of labor contracts has not reduced, remained stable. We are observing some increase. The practical financial assistance of the country has been delivered to tens of thousands of entrepreneur entities and hundreds of thousands of hired employees working in entrepreneur entities. Investments of the state, as well as , as you stressed, the volume of investments in social infrastructure has been preserved, and has been implemented. All the duties by allocating additional funds to the infrastructure of the health sector and material well-being of medical staff, have been implemented. At the same time, public debt - neither foreign nor domestic - has increased. All of these have been possible by your instructions, frames presented by you, reputable Mr. President.”

 

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