A Preliminary Assessment of the Impact of the COVID-19 Pandemic on Azerbaijani Economy
21 Pages Posted: 20 Aug 2020
Date Written: August 19, 2020
Azerbaijan became the country among the post-soviet countries, that allocated the largest share of GDP, in order to eliminate the economic challenges caused due to the outbreak of COVID-19. Providing favorable economic conditions in the post-pandemic period is as crucial as supporting the economy during the period of the pandemic. Thus, it seems like all implemented programs and activities, including the huge amount of government funding, is going to maintain the economic balance and provide the development over the long-term period. It is an undeniable fact that the impact of the pandemic on the economy might be fully assessed only over time. Experience demonstrates that early evaluation may lead to even greater recession and instability. This paper aims to demonstrate the challenges faced by Azerbaijan in the framework of the fight against a pandemic. Since the economy of a country was affected, a detailed analysis may provide a better understanding of the outcome, enlightening the areas which need more support and development.
Keywords: COVİD-19, Azerbaijan, Economy, GDP Growth, Budget
JEL Classification: E01, E24, P44, G18, H61, H72
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