Effects of natural monopolies on the national economy
In current situation, the widespreading of the COVID-19 pandemic in the world has had a significant impact on the socio-economic development of our country. To minimize the effects of this impact, it is necessary to restore the country's strong economic potential through the efficient use of the country's existing natural and labor potential. In such situation the focus should be on improving the functioning of natural monopolies and adapting them to changing market requirements. Natural monopolies play a special role in the formation and dynamic development of the market economy, enriching the domestic market with products based on local raw materials, improving the living standards of the population, creating new jobs and increasing the level of employment and solving other socio-economic problems. Natural monopolies in Azerbaijan exist mainly in the areas of heat and electricity transmission, natural gas and oil pipelines, railway transport, ports, terminals and airport services. Prices for products in this area are also objects of state regulation.Regulation of prices for natural monopolies is important in solving the country's social and economic problems, increasing the competitiveness of products produced in the national economy and the sustainable development of the country as a whole.Therefore, there is a need to analyze the specifics and mechanisms of state regulation of the activities of natural monopolies. In solving all these problems, there is a special need to pay constant attention to the organization of the activities of natural monopolies in terms of modern requirements, to increase their production capacity and thus to determine their impact on the national economy. The mentioned features show the relevance of the topic of the article.The purpose of the study is to study the impact of natural monopolies on the development of the national economic system, to identify important tasks in this area.The need to increase the efficiency of natural monopolies as a scientific novelty of the research was substantiated, the issues of state regulation in this area were considered and related measures were identified. The impact of the application of innovations on the national economy in the activity of natural monopolies has been studied. Also, suggestions of a recommendatory nature for improving the functioning of natural monopolies have also been made. The implementation of these proposals can be important not only in terms of their activities, but also in terms of increasing the efficiency of the national economy as a whole