Elman Rustamov: Financial challenges in post-pandemic period demand an increase in budget expenditures

Forecasts for the next year are fully built in the system of macroeconomic stability.

banks.az reports that this was stated at Parliament’s plenary session by Central Bank’s chairman Elman Rustamov.

He noted that major financial challenges in the post-war and post-pandemic periods require an increase in budget expenditures. According to Rustamov, the main strategic challenge here is the reduction of the economy's dependence on oil. 

"It is expected that in the near future the macroeconomic system as a whole will be adapted to the new strategy. The level of food security of the country should be increased."