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Navid Nagvi: Azerbaijan is able to cope better with crisis

14.07.2020,11:53


July 14, Fineko/abc.az. Some factors suggest that we will see a contraction of approximately 3% of GDP in Azerbaijan in 2020.

The statement was made in an interview for ABC.AZ by Navid Nagvi, World Bank’s former representative on Azerbaijan.

He noted that a lot is still unknown.

“We are all hoping that one of the vaccines that are under trial now will turn out to be effective and that we will be much more successful in dampening a possible second infection wave in the winter during the normal flu season. If, however, we find that a second round of stringent lockdowns are necessary over the winter, then we will have to deal with not just a recession in 2020 but continuing economic challenges in 2021.

In any case, Azerbaijan is better placed than most countries in the world to deal with the economic challenges that the current crisis has brought to our doorstep. And I say this primarily because we can see a competent economic team in the key ministries, in the presidency, and in the vice president's office," Nagvi said.