Finance Minister: Azerbaijan has not borrowed foreign loans despite pandemic

Azerbaijan has not borrowed foreign loans although a number of countries did so during the pandemic, Finance Minister Samir Sharifov said at a joint meeting of the Parliamentary Committees on Legal Policy and State Building, Defense, Security and Combating Corruption, Human Rights, International, and Interparliamentary Relations and the Disciplinary Commission on November 11, while discussing documents included in the draft state budget envelope for 2022, Report informs.

"Our country has decided to use the funds accumulated in the Oil Fund. At the same time, there was no borrowing. Considering that the way out of the pandemic can be difficult, we considered that there is a need for a soft fiscal policy," the minister added.