Baku. Musa Ahmadov - APA-Economics. “Azerbaijan’s economy is resilient to any impact from the Ukraine crisis. But, the economy is threatened by lower oil prices, the IMF's mission chief for Azerbaijan, Raja Almarzoqi, Reuters reported.
“A sustained and sharp decline in the oil price could impact the non-oil GDP growth given the limited space to conduct countercyclical fiscal policy," Almarzoqi said.
According to him, the top priority for Azerbaijan is to reduce the heavy dependence on the oil and gas sectors by pursuing decisively the government's medium term fiscal consolidation strategy.
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