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Forecast: Revenues to fall in 20 economic sectors most affected by pandemic

15.04.2020,12:47


April 15, Fineko/abc.az. An analysis of GDP using the expenditure method shows that household and government consumption, as well as net exports, will tend to decline in the remainder of the year.

ABC.AZ reports that the above-mentioned statement was made by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications.

According to Gasimli, on the other hand, due to low prices, revenues from the oil sector, as well as 20 sectors in the non-oil sector that are most affected by the pandemic, are likely to decrease:

"In fact, President Ilham Aliyev has defined three main goals of economic policy for this year: economic stability, employment and welfare, and economic growth. Based on these goals, prioritization of expenditures in the budget policy, further increase of transparency and efficiency of expenditures are identified as the main directions. In order to ensure fiscal stability, such measures as amnesty for capital and property, privatization, reducing the “budget burden” by improving the efficiency of management of state-owned enterprises, increasing the transparency and economic efficiency of investment programs, and increasing the transparency of public procurement have been identified. In addition, raising of private investments will be crucial in ensuring sustainable economic growth."