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Republic of Azerbaijan: 2021 Article IV Consultation-Press Release; and Staff Report
Author:
International Monetary Fund. Middle East and Central Asia Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2021: Issue 278
Language:
English
Publication Date:
22 Dec 2021
DOI:
https://doi.org/10.5089/9781616359591.002
ISBN:
9781616359591
ISSN:
1934-7685
Pages:
67
Keywords:
CPI data ROSC; fund Dept; safeguards assessment policy; fund surveillance; transparency policy; International Monetary Fund Washington; d.c; Oil prices; Oil; External sector statistics; Global
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Azerbaijan faced unprecedented challenges in 2020. The combined COVID-19 and oil price shocks pushed the economy into recession. A sizeable relief package helped cushion the economic impact from this shock, and the economy has started to recover. Yet the medium-term outlook remains subdued. The long-term fiscal position is unsustainable as oil resources are expected to run out by mid-century. The authorities have laid out strategic goals of accelerated yet sustainable socio-economic development over the next decade and are developing policy plans to that end.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2021: Issue 278