Center for Economic Researches Names Economic events in Azerbaijan in 2007
Azerbaijan, Baku / corr Trend U.Ismayilova / The Center of Economic Researches has publicized the most significant events in Azerbaijan in the economic context in 2007.
The Center said that one of the considerable events of 2007 was the January decision of the Tariff Council on increase of prices for the communal services and energy resources. With this respect, in 2007 the consumer price index in the energy sector rose by 2.5 times.
In January the consumer goods prices in the non-oil sector grew by 68%, or 77.8% more than the same period of 2006.
The figure of the year was the two-digit inflation ratio. After the 12-year break the population of Azerbaijan anew felt the impact of inflation. The highest inflation ratio in Azerbaijan was fixed in 1994.
The dispute of the year was the disagreement between the State Statistics Committee and the Center Economic Researches on the level of inflation. According to the State Statistics Committee, in January to November the level of inflation made up 16.4%, whereas the Center calculated this figure as 25.65%.
Loss of the year - agreement between Turkmenista, Kazakhstan and Russia on the construction of the Pre-Caspian Pipeline.
Privatization of the year - the victory of SOCAR in the tender for purchase of 51% of the stock of the Turkish petrochemical holding Petkim.
Currency of the year - gradual consolidation of AZN
Privileges of the year - cancellation of VAT for grain import
Window of the year - a decision on the application of a 'Unified Window' in Azerbaijan, which resulted in the reduction of business registration from 53 to 3 days.
Railway road of the year - the commencement of the Baku-Tbilisi-Kars.
Investments out of the country - purchase of terminal by the SOCAR in Kulevi in the Black Sea coast of Georgia.