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Restoration of liberated territories to boost Azerbaijan’s economy

25 December 2020 13:31 (UTC+04:00)
Restoration of liberated territories to boost Azerbaijan’s economy

By Ayya Lmahamad

Restoration and development of Azerbaijani lands liberated from the Armenian occupation will contribute greatly to the development of the country’s economy, Economy Minister Mikayil Jabbarov said during the parliament’s sessions on December 23-24.

“The great return of Karabakh, reintegration and development of the liberated territories, will make an important contribution to the development of the country’s economy,” Jabbarov said.

He noted that work is underway to restore the liberated territories, create conditions for the IDPs who will return there, and provide them with employment. In addition, the minister emphasized that both local and foreign investors are showing great interest in the restoration of the liberated territories.

He underlined that presently the state policy is mainly focused on restoring these territories and returning the citizens to their lands.

Furthermore, the minister said that the World Bank predicts the growth of the Azerbaijani economy by 1.9 percent next year, while other international organizations predict growth by 2 percent.

Touching upon the global crisis caused by the coronavirus pandemic, the minister emphasized that Azerbaijan maintains economic stability. He added that the financial pillars of macroeconomic stability in the country have been strengthened despite the difficulties of 2020.

"Despite the decline of the global economy due to the pandemic, the economy of Azerbaijan demonstrated stability thanks to the well-thought-out policy of President Ilham Aliyev during the global crisis", the minister said.

Jabbarov pointed out that the martial law and introduction of quarantine regime had also influenced the country’s economy, adding that measures will be taken to ensure that lands liberated from the occupation contribute to the economy.

Additionally, the minister noted that the new national export strategy has been prepared and will be presented in the near future.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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