Finance minister: Negative impact of lockdown on economy inevitable

By Azernews

By Akbar Mammadov

Azerbaijan’s Minister of Finance Samir Sharifov has said that the negative impact of the coronavirus quarantine regime on the economy is inevitable.

“The quarantine lasted for a while, so its negative effects were inevitable. However, following the quarantine, other processes in the country started occurring," the minister said addressing the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship on June 2.

Commenting on the fulfillment of the state budget for 2019, Sharifov said that the results of the past five months are available and a sufficient surplus has been formed.

“This is a good picture, and detailed information about the results will be provided after the analysis”, he noted.

Sharifov also spoke about the development of Azerbaijan’s non-oil sector.

“It is gratifying that the decree signed by President Ilham Aliyev on the application of the new budget rule approved certain indicators of the non-oil base deficit”, the minister said.

Noting that these indicators were implemented very quickly in 2019, Sharifov added:

“Practical measures are being taken to gradually reduce our dependence on the oil sector. The budget rule also serves these purposes.

Azerbaijan first introduced qurantine regime on March 24. On May 29, Azerbaijan extended special quarantine regime until June 15 while relaxing some of the lockdown rules, the coronavirus task force under the Cabinet of Ministers. Since 31 May, the activity of large shopping centres and malls on the territory of the country is resumed (except for children's and entertainment centres, cinemas, public catering facilities) has been restored. Violation of the rules entails administrative and criminal liability as provided by law.

As of June 2, Azerbaijan has registered 5.662 COVID-19 cases and 68 coronavirus- related deaths so far. The total number of recovered patients is 3.508.