Economy Minister: Impact of COVID-19 on Azerbaijani economy - minimal

  30 June 2020    Read: 1921
 Economy Minister: Impact of COVID-19 on Azerbaijani economy - minimal

Despite the fact that the economy of Azerbaijan is facing difficulties during the COVID-19 pandemic, the negative impact of the pandemic on the structure of the country's national economy is minimal, Minister of Economy Mikayil Jabbarov said.


Jabbarov made the statement during a press conference on June 30, reports citing Trend. 

He noted that the ministry is working on improving the business environment.

Since January 2019, reforms have been carried out in relation to labor contracts, the economy minister added.

“If, as of January 1, 2019, 539 522 labor contracts were concluded, by June 26, 2020, the number of the contracts reached 751,705. In other words, about 210,000 labor contracts were concluded during 18 months,” said Jabbarov.

The minister also noted that every three out of four manat from the taxes is coming from the private sector.

The areas affected by the pandemic have been identified, and there are a number of business projects managed by the Ministry on the provision of financial support to reduce the harm of the pandemic, he added.

In total, 130,000 entrepreneurs were provided with financial support during the pandemic period, and taking into account workers of the suffered areas – 310,000 people, Jabbarov said.


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