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Deputy minister discloses number of entrepreneurs to be supported in Azerbaijan

Deputy minister discloses number of entrepreneurs to be supported in Azerbaijan

Economy
07 April 2020, 18:52 74
The coronavirus pandemic in the world creates big problems for the economy, social conditions and the population, Azerbaijani Deputy Minister of Economy Niyazi Safarov told reporters.
Safarov made the remark during a press tour at the medical masks manufacturing enterprise that opened by Baku Textile Factory LLC in the Sumgayit Chemical Industrial Park on April 6, Trend reports.
"In such a situation, maintaining macroeconomic and financial stability and ensuring employment is of great importance,” deputy minister said.
"In accordance with the president’s instructions, the meetings were held with the representatives involved in various spheres of activity, greatly affected as a result of coronavirus,” Safarov added. "The wishes and proposals of entrepreneurs were heard."
To address them, four working groups were created, said the deputy minister.
"One billion manat [$588.2 million] was allocated to improve the economic situation of students and other citizens and to support economic entities upon Azerbaijani President Ilham Aliyev’s instructions,” Safarov said.
"The conducted analysis showed that these funds are not enough, so the funds are expected to be increased to 2.5 billion manat [$1.5 billion]," the deputy minister said.
Safarov added that the assistance will be rendered to 600,000 entrepreneurs.