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President Ilham Aliyev: "Artificial increase in prices should not be allowed" - UPDATED

President Ilham Aliyev: "Artificial increase in prices should not be allowed" - <span style="color: red;">UPDATED

08 October 2016 01:10 (UTC +04:00)

Baku-APA. "Artificial increase in prices should not be allowed. There must be a serious monitoring. The control by both people and state bodies should be stronger. Because we can not allow unscrupulous people, speculators to inflate prices artificially and cause people to suffer,” said Azerbaijani President Ilham Aliyev at the meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in the nine months of 2016 and future objectives

The Head of State noted that the price of imported products is formed on the world market: “If the price of any product that is not produced in Azerbaijan is increased on the world markets, of course, it will grow in our country. Therefore, we must try to minimize the dependence on imports, that is to reduce it to a minimum. At the same time, the composition of food products produced domestically have foreign components. This component we also need to reduce. Works in this direction are carried out,” the Head of the State

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20:45

Baku - APA. President Ilham Aliyev gave instructions in connection with an artificial overpricing and to minimize dependence on imports.

Speaking at the meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in the nine months of 2016 and future objectives, the Head of State noted that there is a need to continue taking measures to create industrial parks, which will contribute to the development of industry and the non-oil sector in the country: “Measures in connection with the construction of a plant for production of medicines in Pirallahi district of the capital, creation of an industrial zone in Masalli and construction of the car factory in Neftchala continue. Construction of a large metallurgical complex is planned in the near future,” added the President, APA reports.

President Ilham Aliyev said that in 2016 a number of reforms, which have already yielded results were carried out in the country. The Head of State noted that they were highly appreciated by international organizations. The President stressed that in the ranking of the Davos Economic Forum Azerbaijan takes 37th place for the competitiveness. Noting the importance of the social orientation of the state budget for next year, Ilham Aliyev stressed the need to maintain also the investment oriented projects.

Giving instructions on the development of cotton growing, sericulture, tobacco, tea-growing and cattle breeding, President Ilham Aliyev said that the expansion of agricultural production, as well as the development of tourism, which will bring foreign currency to the country are important areas. In addition, the President noted that to develop reclamation, provide favorable loans to entrepreneurs and develop the family businesses are areas to be focused on.

The Head of State expressed confidence that 2016 will be completed successfully.