Main challenge is to reduce dependence of country’s economy on oil to zero, says Azerbaijan’s Economy Minister

“The main challenge is to reduce the dependence of the country’s economy to zero" said Minister of Economy Mikayil Jabbarov

“As a result of transparency in social insurance contributions and the activities of the Ministry of Labor and Social Protection, the dependence of State Social Protection Fund from the budget is being significantly decreasing,” said Minister of Economy Mikayil Jabbarov at the meeting of Economic policy, Entrepreneurship and Social Policy Committee of the Milli Majlis on the discussion of the draft law “On the budget package of the Republic of Azerbaijan for 2022”, Qazet.az reports.

The Minister noted that the social strategy document for 2022-2026 has been developed and submitted: “The main challenge is to reduce the dependence of the country’s economy to zero. Establishing an adequate environment in the economy is envisaged in this regard.