COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times
COVID-19 Pandemic and Azerbaijan’s Economy: Policy Lessons In Hard Times
Author(s): Aydın Ülviyye SanılıSubject(s): National Economy, Energy and Environmental Studies, Environmental and Energy policy, Health and medicine and law, Peace and Conflict Studies
Published by: Celal Bayar Üniversitesi Sosyal Bilimler Enstitüsü
Keywords: Azerbaijan; COVID-19; Karabakh War; Oil Industry;
Summary/Abstract: Any fluctuation in oil prices and supply has a direct effect on Azerbaijan’s economy. The government has started the implementation of several state programs to diversify its economy and to develop the non-oil sectors, using energy revenues. COVID-19 has broken out in such a period that the oil prices were already low. The Second Karabakh War has complicated impacts of the pandemic. Facing health, military and economic problems, Azerbaijan has fought on three different fronts. This study evaluates the effects of the pandemic on Azerbaijan’s economy, suggesting that it will affect the oil and gas industry negatively in near future. It is argued that in a long term, the state will be pushed to restructure and transform the economy, to increase the share of the non-oil sectors and to open more space for renewable energy sources, taking advantage of the incomes of The State Oil Fund.
Journal: Celal Bayar Üniversitesi Sosyal Bilimler Dergisi
- Issue Year: 20/2022
- Issue No: 01
- Page Range: 103-120
- Page Count: 18
- Language: English