Azerbaijan to focus on measures to increase economic activity next year

Azerbaijan to focus on measures to increase economic activity next year - Finance Minister

24 December 2020 16:33 (UTC+04:00)

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The COVID-19 pandemic had a big impact on the global economy, Azerbaijani Finance Minister Samir Sharifov said, Trend reports.

Sharifov gave the speech at a meeting of the Parliament of Azerbaijan during discussions on the state budget of Azerbaijan for 2021.

Azerbaijan also suffered from its consequences, but thanks to the measures taken, large economic losses were prevented, said the minister.

“The economy is expected to shrink by up to 4 percent by the end of this year. In the coming year, a number of measures are envisaged to increase economic activity in the country,” said the finance minister.

Sharifov noted that the draft state budget pays special attention to the goals set by the head of state.

Next year, funds worth 261, 161, and 288 million manat will be allocated for appropriate measures to fight the coronavirus pandemic, the finance minister stressed.