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2. Assessment of Impact of COVID-19 on SMEs in Azerbaijan: Consequences and Perspectives
- Author:
- Narmina Gasimova
- Publication Date:
- 07-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- COVID-19 had a considerable negative impact on the economy of Azerbaijan, with SMEs being one of the major victims from the economic perspective. Economic sectors were affected to a different extent by the pandemic and lockdown measures. As a result of lockdown measures, many SMEs closed their operations with their employers not being paid or left without pay. Although the government provided essential support to small and medium-sized businesses, the share of closed businesses was high. Over two years since the beginning of the pandemic, a measures toward the improvement of the business environment was done. The share of operating and newly created SMEs increased along with legislative incentives adopted for their development.
- Topic:
- Economy, Public Health, COVID-19, and Lockdown Policies
- Political Geography:
- Azerbaijan and Caspian Sea
3. Amendments in the 2022 State Budget of Azerbaijan: Impacts and Perspectives
- Author:
- Nigar Islamli
- Publication Date:
- 07-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- After the global pandemic, rising global demand, as well as the impact of geopolitical and military tensions, have led to a significant rise in the prices of major energy carriers in recent years. In the context of this pandemic, the recession in the country's economy in 2020 was replaced by the process of rapid economic recovery in 2021. The significant increase in oil prices in Azerbaijan had a positive effect on the nominal amount of GDP, although the increase in nominal GDP was mainly due to the oil sector, the real growth was possible almost due to non-oil sectors. The economic situation for the past period of the current year, the medium-term socio-economic forecast indicators, and the performance of budget revenues more than expected made it necessary to revise the state budget for 2022.
- Topic:
- Oil, Budget, GDP, Economy, and COVID-19
- Political Geography:
- Azerbaijan
4. The Azerbaijani economy in the first four months of 2022: İndependent View
- Author:
- CESD Research Team
- Publication Date:
- 05-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- CESD – the Center for Economic and Social Development – concluded its macro-economic survey results for the first four months of 2022. According to the State Statistic Committee of Azerbaijan, Gross Domestic Product (GDP) increased by 7.2 % in January-April 2022 compared with the same period of previous year: The CESD’s figure for the same period was 6.5 %.
- Topic:
- Development, GDP, Economy, and Macroeconomics
- Political Geography:
- Azerbaijan
5. FDI in Azerbaijan in 2021: Developments and Challenges
- Author:
- CESD Research Team
- Publication Date:
- 04-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- Attracting foreign direct investment is now more important for Azerbaijan than ever before. Against the background of global uncertainty, the development of the non-oil sector and the diversification of the economy have become even more priority. On the other hand, there has been a decline in oil production in recent years, and even though high oil prices, the country's revenue from energy sales is lower than compared to the period before 2014.
- Topic:
- Oil, Foreign Direct Investment, Economy, and Diversification
- Political Geography:
- Azerbaijan
6. How Will Coal Sanctions Impact on Russian Economy?
- Author:
- CESD Research Team
- Publication Date:
- 04-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- The Western Alliance has approved a new package of sanctions against Russia. The most notable of the sanctions is the suspension of coal exports from Russia. What does this mean for Russia, and how can the European Union compensate for this ban? Yesterday, the European Commission posted a decision on sanctions on its website, which means that the ban will come into force. This means that from today, European companies will not be able to conclude contracts to buy coal from Russia. The contracts signed in the previous period must be completed by August.
- Topic:
- Sanctions, European Union, Economy, Exports, Coal, and Russia-Ukraine War
- Political Geography:
- Russia and Europe
7. The Economic Consequences of Russia-Ukraine War for Azerbaijan
- Author:
- Emin Mammadov
- Publication Date:
- 03-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- The past three decades of independence demonstrate that Russia remains a strategically economic and political partner, and multidirectional relations between two parties historically were of crucial importance. In the year 2021, total trade turnover between Russia and Azerbaijan accounted for 2.295 bln USD with a 12% upsurge recovering to pre-pandemic levels. Russia ranked as the 3hd largest trade partner of Azerbaijan in 2021 following Italy and Turkey and the share of trade with Russia alone made up 8.83% of the total in this period.
- Topic:
- Politics, Economy, Trade, and Russia-Ukraine War
- Political Geography:
- Russia, Ukraine, and Azerbaijan
8. The Economic Consequences of Russia-Ukraine War for Azerbaijan
- Author:
- Emin Mammadov
- Publication Date:
- 03-2022
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- The year 2020 posed an unprecedented challenge to the World economy with the outbreak of the Covid-19 pandemic shrinking the global GDP by 6,7 % and bringing worldwide severe economic repercussions. Economic recovery is in continuation process in which the non-hydrocarbon sector acts as the main driver with a strong contribution of the oil and gas sector as well coupled with the rising demand for, and price of, oil that can further strengthen overall economic performance, however risks in the scenario are vivid.
- Topic:
- Economy, Risk, COVID-19, and Economic Recovery
- Political Geography:
- Azerbaijan
9. Amendments to state budget of Azerbaijan for 2020: Reasons and Expectations
- Author:
- Narmina Gasimova and Nigar İslamlı
- Publication Date:
- 06-2020
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- Nowadays, global economic growth has been severely affected beyond anything passed in nearly a century. The outbreak of the coronavirus disease has brought its negative impact and destructive outcome on the economies alongside with the sharp fluctuations in global energy and stock markets. There might be observed a subsequent sharp decline in the number of transactions and practical shutdown of many markets due to the large-scale quarantine and self-isolation measures. Taking into consideration the abovementioned factors, it becomes clear that there emerged a need to revise all economic forecasts for 2020-2021. The International Monetary Fund (IMF) predicted a decline of the global economic growth rate in April (-3%), but in accordance with the current circumstances, the figures were revised in June, representing a 4.9% decrease. In spite of a fact that Azerbaijan became one of the first countries among the post-soviet countries, that allocated the largest share of GDP, in order to eliminate the economic problems caused due to the pandemic, the impact of the emerged difficulties made a necessity to revise the budget.
- Topic:
- Budget, GDP, Economy, Coronavirus, IMF, and COVID-19
- Political Geography:
- Eurasia, Caucasus, and Azerbaijan
10. A preliminary assessment of the impact of the COVID-19 pandemic on Azerbaijani economy
- Author:
- CESD Research Team
- Publication Date:
- 08-2020
- Content Type:
- Working Paper
- Institution:
- Center for Economic and Social Development (CESD)
- Abstract:
- Azerbaijan became the country among the post-soviet countries, that allocated the largest share of GDP, in order to eliminate the economic challenges caused due to the outbreak of COVID-19. Providing favorable economic conditions in the post-pandemic period is as crucial as supporting the economy during the period of the pandemic. It is an undeniable fact that the impact of the pandemic on the economy might be fully assessed only over time. Experience demonstrates that early evaluation may lead to even greater recession and instability. This paper aims to demonstrate the challenges faced by Azerbaijan in the framework of the fight against a pandemic. Since the economy of a country was affected, a detailed analysis may provide a better understanding of the outcome, enlightening the areas which need more support and development.
- Topic:
- Development, Economy, COVID-19, and Health Crisis
- Political Geography:
- Eurasia, Caucasus, and Azerbaijan
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