Center for Economic Reforms Analysis: Azerbaijan has economic resources for post-pandemic period

By Trend

Azerbaijan has all economic resources required in the post-pandemic period, Ruslan Atakishiyev, chairman of the Azerbaijani Center for Economic Reforms Analysis, told Trend.

“Moreover, Azerbaijan may reduce investment funds for some minor projects and save money,” Atakishiyev added. “A decision was made to provide lump-sum payments in April and May to 600,000 people after a meeting chaired by Azerbaijani President Ilham Aliyev and with the participation of ministers, which took place on April 17 in the form of video conference.”

“At the next stage, it is planned to collect and systematize the necessary information, where all these people will be registered to ensure their further employment,” the chairman said.

"Moreover, during the quarantine regime, a process was launched to create 50,000 paid public jobs during the period from April through May,” Atakishiyev said. “For this purpose, 30 million manat ($17 million) was allocated. So far, 5,000 people have been already employed. During the meeting on April 17 President Aliyev stressed that it is necessary to increase this number up to 90,000.”

“The process of attracting 12,000 families to the self-employment program was launched in 2020,” the chairman said. “Some 70 million manat ($41 million) was allocated from the Unemployment Insurance Fund for this purpose. Regional Development Public Union of the Heydar Aliyev Foundation actively contributes to the development of the program by attracting 250 families a year in it.”

"The number of recipients of social assistance has reached 330,000,” the chairman added. “The amount of targeted social assistance for each family is 222 manat ($130). In accordance with the president’s order, the mechanisms for targeted social assistance have been simplified and the conditions have been alleviated. There is a guarantee that more families will receive support from this program, which proves once again that the president is taking the necessary, consistent measures to improve the social well-being of low-income families."