Azerbaijan economy faces double hit

 

The extension of term of the phased application of mandatory health insurance in Azerbaijan has been discussed at the plenary meeting of Azerbaijan’s Parliament. A change to the law on medical insurance has been agreed. According to the change, the introduction of the MHI will be carried out step by step, and the process is set for completion in 2021. Under the current law, this process was supposed to be completed in 2020.

Health insurance will be implemented in stages but the original timetable for 2020 has been scrapped and replaced with a vague promise of completion in 2021. 

The government was struggling to launch this even before the country's economy faces the double challenge of the COVID-19 outbreak and the global oil market shock. Further delays should be expected.

The European Bank for Reconstruction and Development (EBRD) is stepping up support for Azerbaijani companies. The EBRD’s support includes measures such as emergency liquidity, working capital and trade finance.

The EBRD is an important institutional investor in Azerbaijan. The bank has invested €3.3 billion (US$3.6bn) through 170 projects in the country. It also provides business advice to local small and medium-sized enterprises, including tourism and health tourism.

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