Azerbaijan, unlike other countries, did not attract loans during COVID-19 pandemic - minister

By Trend

Some countries began to attract foreign loans, but Azerbaijan did not do this during the COVID-19 pandemic, Azerbaijani Finance Minister Samir Sharifov said on Nov. 11, Trend reports.

He made the remark during the discussion of the draft state budget-2022 at a joint meeting of the Law Policy and State Building Committee, Defence, Security and Counter-Corruption Committee, Committee for Human Rights, Committee for International Relations and Inter-Parliamentary Connexions of the Azerbaijani parliament and the Disciplinary Commission.

The minister stressed that Azerbaijan used own funds during the COVID-19 pandemic.

"Azerbaijan decided to use the funds accumulated in the State Oil Fund,” Sharifov said. “Therefore, transfers from the State Oil Fund have slightly increased. Taking into account that the way out of the COVID-19 pandemic can be difficult, we thought that it is necessary to pursue a soft fiscal policy.”