Azerbaijan's Deputy Economy Minister comments on inflation and artificial price rise

Deputy Minister of Economy Sevinj Hasanova

© APA | Deputy Minister of Economy Sevinj Hasanova

# 23 November 2021 15:54 (UTC +04:00)

"Application of support mechanisms to the economy, lifting restrictions regarding coronavirus have positively effected economy," said Deputy Minister of Economy Sevinj Hasanova at today's meeting of Parliament, APA reports.

Deputy Minister noted that according to a statement of BMT-nin Ərzaq və Kənd Təsərrüfatı Təşkilatı, prices in the world has reached the highest level over the last 30 years: "As a result of it, an increase should be observed in prices of products that are imported into the country. It is the factor, which mostly impacts our level of inflation. Import index has currently surpassed 23%. The import prices index of ready-made food products has even exceeded 25%. It should be noted that International Monetary Fund also forecasts high price indexes in their forecast for the current year. But forecasts of FAO are more promising. Inflation is expected to slow next year. Taking into consideration of the high level of inflation in the current year, the Ministry of Economy does not forecast a high increase in the next year as being in the current year. One of the important factors for keeping inflation at a low rate is the provision of the macroeconomy".