Macroeconomic Resilience Work Group discusses 2023 Final Report

16-02-2024

16 February 2024, Baku: As part of the targets specified in the 'Socio-economic Development Strategy of the Republic of Azerbaijan for 2022-2026' for 2023, the Macroeconomic Resilience Work Group conducted discussions on the 2023 Final Monitoring and Assessment Report.

During a virtual meeting, Rashad Orujov, the First Deputy Governor of the Central Bank of the Republic of Azerbaijan and Chair of the Work Group, provided a comprehensive overview of the progress made and on ongoing efforts across all areas outlined within the framework of the goal of 'Resistance to Internal and External Effects.'

Ayaz Museyibov, Deputy Chair of the Work Group, Advisor to the Executive Director of the Center for Analysis of Economic Reforms and Communication of Republic of Azerbaijan (CAERC), presented the report. He said that specific laws were adopted, amendments were made to certain legal acts, and targeted measures are under way to address emerging challenges to meet the 2023 objectives.

The presentation of the report was followed by discussions among the Work Group members and the Q&A session.

The Macroeconomic Resilience Work Group is represented by heads of respective departments from the Ministries of Finance, Economy, Justice, Labor and Social Protection of the Population, as well as of the State Oil Fund, the Mortgage and Credit Guarantee Fund, the Deposit Insurance Fund and the Agrarian Insurance Fund along with the Central Bank and the CAERC.

Note that, eight Work Groups have been established to ensure full, timely and effective implementation of the actions outlined in the ‘Socio-economic development Strategy of the Republic of Azerbaijan for 2022-2026’ and coordinate activities of respective public authorities. Within this framework, the ‘Macro-economic resilience’ Work Group provides the fulfillment of the Resilience to internal and external effects goal and the coordination of activities among respective public authorities.