Mikayil Jabbarov: COVID-19 impact on Azerbaijani economy is minimal

Mikayil Jabbarov: COVID-19 impact on Azerbaijani economy is minimal

Despite the fact that the Azerbaijani economy 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 during a press conference.

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

According to Jabbarov, since January 2019, reforms have been carried out in relation to labor contracts.

"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," the minister said.

Mikayil Jabbarov noted that every three out of four manat from the taxes is coming from the private sector.

He said that 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.

The minister added that 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.