IMF: Driver of economic recovery in Azerbaijan is non-oil sector

Jihad Azur

© APA | Jihad Azur

# 19 October 2021 15:14 (UTC +04:00)

The main drivers of the current recovery of the Azerbaijani economy are the non-oil sector, acceleration of vaccination, and fiscal and financial measures taken by the state, said Jihad Azur, Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF) while responding to the question of APA-Economics.

He said that in accordance with OPEC quotas, an increase in oil and gas prices will increase Azerbaijan's international currency reserves and will help reduce the deficit in the consolidated budget.