Prime Minister: Inflation in Azerbaijan is mainly imported inflation

Prime Minister: Inflation in Azerbaijan is mainly imported inflation
# 17 March 2023 11:31 (UTC +04:00)

“In 2022, the revenues of the state budget were executed approximately AZN 31 bn., while expenditures AZN 32 bn,” said Azerbaijan’s Prime Minister Ali Asadov during the presentation of the report on the activity of the Cabinet of Ministers in 2022, APA reports.

The minister noted that inflation has become a serious problem in the world in recent years: “In particular, an increase in inflation rates was observed in the countries that are our trading partners, the average annual inflation was 20.4%. This process impacted on an increase in the total level of the prices within the country. In 2022, average annual inflation in Azerbaijan made up 13,9 percent. Food prices in particular have seriously impacted domestic food inflation through imports. The annual price index of imported products increased by more than 22%. Inflation in Azerbaijan is mainly imported inflation.”

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