BAKU, Azerbaijan, June 23. The inflation target in Azerbaijan is 4 percent, Governor of the Central Bank of Azerbaijan Taleh Kazimov said, Trend reports.
Kazimov made the remark during the discussion of the proposed amendments to the law "On the Central Bank of the Republic of Azerbaijan" at today's meeting of the Milli Majlis (Parliament) of Azerbaijan.
He noted that too low inflation hinders economic development.
"The absence of inflation has a negative impact on the economy. Inflation is necessary for the economy to develop," Kazimov said.
In 2022, the inflation rate in Azerbaijan made up 13.9 percent.