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The financial stability policy of the Central Bank of Azerbaijan Republic for 2021

The financial stability policy of the Central Bank of Azerbaijan Republic for 2021 bY7DP
2020 was a very difficult year for the world economy. Undoubtedly, the main problem in 2020 was the COVID-19 pandemic. Most of the sectors have suffered economic recession due to the pandemic. On the other hand, we have liberated our lands after the Patriotic War in 2020. During this harsh period, the Central Bank of the Azerbaijan Republic has made many decisions to suffer less. The main source of the Azerbaijan economy is its dependence on oil. So, during a pandemic, it would affect badly to us. As long as oil prices were $72 in 2018, this was $64 in 2019. However, this fluctuation was not only due to the COVID-19. In today’s corporate world, most countries are trying to utilize less oil and gas because of the preventing world from climate change. Besides that, the new US president wants foreign countries not to use oil sectors. And this will affect most countries’ decisions about the oil sector. That is why the CESD is trying to make decisions on non-oil sectors. Additionally, 2019 was expected to shrink by 4. 4% that was the higher than 2008-2009 financial crisis. This also affected Azerbaijan’s economy. During the pandemic, it was difficult to invest in the market due to uncertainty. This uncertainty decreased investments by 4% in 2020. Another reason for this, 4 banks were closed due to high loss, and depositors received AZN 615 million. On the other hand, banks were trying to change their strategies to strengthen the interest of consumers in cashless payments. This is why cashless payments have increased dramatically during the pandemic by 34%. To support investors in the market and the participation of issuers, the CESD gave several tariffs. Besides that, the government was trying to improve the agricultural sectors in rural areas. To do that, banks were offering soft loans for small and medium businesses. The main purposes of the Central Bank of Azerbaijan Republic in 2021 are keeping the prices stable and maintaining economic sustainability. The CESD will endeavor to control the inflation level between 2%-4%. On the other hand, plans for 2021 are shaped up in the context of the high level of uncertainty of the pandemic. The vaccination process will strengthen this year, and the countries are trying to return the normal life. Global economic growth is anticipated by 5. 2%-3. 9% in advanced economies, and 6% in emerging market economies. Oil prices are expected $48 a barrel in 2021. However, there are big challenges for the Azerbaijan economy in case of a decrease in the oil revenue in the next sectors. In light of the fact of increasing technology affects this as well. To improve agriculture sectors the government is planning to support the business in rural areas in 2021. It is anticipated by a 4% increase. Also, the banks will scheme the depositors to put their money in the banks. This will strengthen the level of investments in the market. These strategies will be satisfactory for sustainable price stability as a result of the competitive environment. As we saw in 2020, it will be tough to control the inflation level in the food sector, amid declining supply due to the COVID-19. According to the expectation of the World Bank, food prices will expand by 4%. The most foremost plan will be to focus on the growth of the liberated areas. The government is working out plans for those lands. These strategies will reduce the level of employment, increase the tourism sector, etc. It is anticipated the expansion of mortgage lending will play a vital role in the improvement of the real estate market. Besides that, the banks are devising various strategies and innovative payment instruments to enhance cashless payments more. In 2020, the CESD was seeking ways to suffer less from the COVID-19. Its plans permitted to maintain financial and macroeconomic stability. Also, it helped to control the inflation level, the purchasing power of the national currency, etc. And in 2021, the CESD will focus on the further improvements of the national economy, financial and macroeconomic stability. Also, low inflation, job recovery, effective coordination of financial and macroeconomic decisions will be prioritized by the government.
2020 was a
This phrase/word is too simple and can be replaced with:
very
difficult year for the
You use this word too often, consider replacing it with
world
You use this word too often, consider replacing it with
economy
.
Undoubtedly
, the main problem in 2020 was the COVID-19 pandemic. Most of the
You use this word too often, consider replacing it with
sectors
have suffered economic recession
You use this word too often, consider replacing it with
due
to the pandemic.
On the other hand
, we have liberated our lands after the Patriotic War in 2020. During this harsh period, the Central
You use this word too often, consider replacing it with
Bank
of the Azerbaijan Republic has made
This phrase/word is too simple and can be replaced with:
many
You use this word too often, consider replacing it with
decisions
to suffer less.

The main source of the Azerbaijan
You use this word too often, consider replacing it with
economy
is its dependence on
You use this word too often, consider replacing it with
oil
.
This phrase/word is too simple and can be replaced with:
So
, during a pandemic, it would affect
badly
to us. As long as
You use this word too often, consider replacing it with
oil
You use this word too often, consider replacing it with
prices
were $72 in 2018, this was $64 in 2019.
However
, this fluctuation was not
This phrase/word (depending on the context) can be potentially replaced with :
only
You use this word too often, consider replacing it with
due
to the COVID-19. In
This phrase/word (depending on the context) can be potentially replaced with :
today
’s corporate
You use this word too often, consider replacing it with
world
, most
You use this word too often, consider replacing it with
countries
are
You use this word too often, consider replacing it with
trying
to utilize less
You use this word too often, consider replacing it with
oil
and gas
This phrase/word is too simple and can be replaced with:
because
of the preventing
You use this word too often, consider replacing it with
world
from climate
This phrase/word (depending on the context) can be potentially replaced with :
change
.
Besides
that, the new US president wants foreign
You use this word too often, consider replacing it with
countries
not to
This phrase/word (depending on the context) can be potentially replaced with :
use
You use this word too often, consider replacing it with
oil
You use this word too often, consider replacing it with
sectors
. And this will affect most
You use this word too often, consider replacing it with
countries’
You use this word too often, consider replacing it with
decisions
about the
You use this word too often, consider replacing it with
oil
You use this word too often, consider replacing it with
sector
.
That is
why the CESD is
You use this word too often, consider replacing it with
trying
to
This phrase/word (depending on the context) can be potentially replaced with :
make
You use this word too often, consider replacing it with
decisions
on non-oil sectors.

Additionally
, 2019 was
This phrase/word (depending on the context) can be potentially replaced with :
expected
to shrink by 4. 4% that was the higher than 2008-2009
You use this word too often, consider replacing it with
financial
crisis. This
also
This phrase/word (depending on the context) can be potentially replaced with :
affected
Azerbaijan’s economy.

During the pandemic, it was difficult to invest in the
You use this word too often, consider replacing it with
market
You use this word too often, consider replacing it with
due
to uncertainty. This uncertainty decreased investments by 4% in 2020. Another reason for this, 4
You use this word too often, consider replacing it with
banks
were closed
You use this word too often, consider replacing it with
due
to high loss, and depositors received AZN 615 million.

On the other hand
,
You use this word too often, consider replacing it with
banks
were
You use this word too often, consider replacing it with
trying
to
This phrase/word (depending on the context) can be potentially replaced with :
change
their
You use this word too often, consider replacing it with
strategies
to strengthen the interest of consumers in cashless
You use this word too often, consider replacing it with
payments
. This is why cashless
You use this word too often, consider replacing it with
payments
have increased
dramatically
during the pandemic by 34%. To support investors in the
You use this word too often, consider replacing it with
market
and the participation of issuers, the CESD gave several tariffs.

Besides
that, the
You use this word too often, consider replacing it with
government
was
You use this word too often, consider replacing it with
trying
to
This phrase/word (depending on the context) can be potentially replaced with :
improve
the agricultural
You use this word too often, consider replacing it with
sectors
in rural areas. To do that,
You use this word too often, consider replacing it with
banks
were offering soft loans for
This phrase/word is too simple and can be replaced with:
small
and medium businesses.

The main purposes of the Central
You use this word too often, consider replacing it with
Bank
of Azerbaijan Republic in 2021 are keeping the
You use this word too often, consider replacing it with
prices
stable and maintaining economic sustainability. The CESD will endeavor to control the
You use this word too often, consider replacing it with
inflation
You use this word too often, consider replacing it with
level
between 2%-4%.
On the other hand
,
You use this word too often, consider replacing it with
plans
for 2021
are shaped
up in the context of the high
You use this word too often, consider replacing it with
level
of uncertainty of the pandemic.

The vaccination process will strengthen this year, and the
You use this word too often, consider replacing it with
countries
are
You use this word too often, consider replacing it with
trying
to return the normal life. Global economic growth
is anticipated
by 5. 2%-3. 9% in advanced
You use this word too often, consider replacing it with
economies
, and 6% in emerging
You use this word too often, consider replacing it with
market
You use this word too often, consider replacing it with
economies
.
You use this word too often, consider replacing it with
Oil
You use this word too often, consider replacing it with
prices
are
This phrase/word (depending on the context) can be potentially replaced with :
expected
$48 a barrel in 2021.
However
, there are
This phrase/word is too simple and can be replaced with:
big
challenges for the Azerbaijan
You use this word too often, consider replacing it with
economy
in case of a decrease in the
You use this word too often, consider replacing it with
oil
revenue in the
next
You use this word too often, consider replacing it with
sectors
. In light of the fact of increasing technology affects this
as well
.

To
This phrase/word (depending on the context) can be potentially replaced with :
improve
agriculture
You use this word too often, consider replacing it with
sectors
the
You use this word too often, consider replacing it with
government
is planning to support the business in rural areas in 2021. It
is anticipated
by a 4% increase.
Also
, the
You use this word too often, consider replacing it with
banks
will scheme the depositors to put their money in the
You use this word too often, consider replacing it with
banks
. This will strengthen the
You use this word too often, consider replacing it with
level
of investments in the
You use this word too often, consider replacing it with
market
. These
You use this word too often, consider replacing it with
strategies
will be satisfactory for sustainable
You use this word too often, consider replacing it with
price
stability
as a result
of the competitive environment.

As we
This phrase/word (depending on the context) can be potentially replaced with :
saw
in 2020, it will be tough to control the
You use this word too often, consider replacing it with
inflation
You use this word too often, consider replacing it with
level
in the food
You use this word too often, consider replacing it with
sector
, amid declining supply
You use this word too often, consider replacing it with
due
to the COVID-19. According to the expectation of the
You use this word too often, consider replacing it with
World
You use this word too often, consider replacing it with
Bank
, food
You use this word too often, consider replacing it with
prices
will expand by 4%.

The most foremost
You use this word too often, consider replacing it with
plan
will be to focus on the growth of the liberated areas. The
You use this word too often, consider replacing it with
government
is working out
You use this word too often, consider replacing it with
plans
for those lands. These
You use this word too often, consider replacing it with
strategies
will
This phrase/word (depending on the context) can be potentially replaced with :
reduce
the
You use this word too often, consider replacing it with
level
of employment, increase the tourism
You use this word too often, consider replacing it with
sector
, etc. It
is anticipated
the expansion of mortgage lending will play a vital role in the improvement of the real estate market.

Besides
that, the
You use this word too often, consider replacing it with
banks
are devising various
You use this word too often, consider replacing it with
strategies
and innovative
You use this word too often, consider replacing it with
payment
instruments to enhance cashless
You use this word too often, consider replacing it with
payments
more.

In 2020, the CESD was seeking ways to suffer less from the COVID-19. Its
You use this word too often, consider replacing it with
plans
permitted
Did you mean "maintaining"? Or maybe you should add a pronoun? In active voice, 'permit' + 'to' takes an object, usually a pronoun.
to maintain
You use this word too often, consider replacing it with
financial
and macroeconomic stability.
Also
, it
This phrase/word (depending on the context) can be potentially replaced with :
helped
to control the
You use this word too often, consider replacing it with
inflation
You use this word too often, consider replacing it with
level
, the purchasing power of the national currency, etc.

And in 2021, the CESD will focus on the
further
improvements of the national
You use this word too often, consider replacing it with
economy
,
You use this word too often, consider replacing it with
financial
and macroeconomic stability.
Also
, low
You use this word too often, consider replacing it with
inflation
, job recovery, effective coordination of
You use this word too often, consider replacing it with
financial
and macroeconomic
You use this word too often, consider replacing it with
decisions
will
be prioritized
by the
You use this word too often, consider replacing it with
government
.
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IELTS essay The financial stability policy of the Central Bank of Azerbaijan Republic for 2021

Essay
  American English
14 paragraphs
694 words
6.0
Overall Band Score
Coherence and Cohesion: 5.5
  • Structure your answers in logical paragraphs
  • ?
    One main idea per paragraph
  • Include an introduction and conclusion
  • Support main points with an explanation and then an example
  • Use cohesive linking words accurately and appropriately
  • Vary your linking phrases using synonyms
Lexical Resource: 5.5
  • Try to vary your vocabulary using accurate synonyms
  • Use less common question specific words that accurately convey meaning
  • Check your work for spelling and word formation mistakes
Grammatical Range: 6.5
  • Use a variety of complex and simple sentences
  • Check your writing for errors
Task Achievement: 7.0
  • Answer all parts of the question
  • ?
    Present relevant ideas
  • Fully explain these ideas
  • Support ideas with relevant, specific examples
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