Azerbaijan working to remove devaluation’s negative results
Baku, Azerbaijan, Dec. 25
By Elchin Mehdiyev - Trend:
The relevant structures have already made statements regarding the artificially inflated prices, Ali Hasanov, Azerbaijani president's aide for public and political affairs, told reporters Dec.25.
Azerbaijani ministry of economy and industry, the cabinet of ministers and other structures are already engaged in this issue, Hasanov said.
The artificial inflation is connected with the recent decision by the Central Bank of Azerbaijan.
The Central Bank of Azerbaijan switched to the floating rate of the national currency (manat) from Dec.21, 2015. As a result, the exchange rate of the US dollar and euro to manat rose by 47.6 percent and 47.9 percent and stood at 1.55 manats and 1.685 manats, respectively on the mentioned day.
Hasanov went on to add that Azerbaijani government is trying to eliminate negative effects of the devaluation, in particular so that social layers having trouble adapting to market economy, pensioners, the disabled and those living with help of mainly government aid wouldn't suffer from the devaluation's consequences.
"Measures in other areas are being taken as well," Hasanov said. "The government is trying to combat the inflated prices for drugs, food, cases of corruption and monopoly. At the same time, the government is trying to eliminate the social consequences of the devaluation by using market economy mechanisms, as well as by interfering with one or another sphere."