Azerbaijani President Attributes Inflation in Azerbaijan as High
Azerbaijan, Baku, 12 January / Trend / The Azerbaijani Government attaches great importance to the increase in the level of inflation which made up 16% in 2007, Azerbaijani Ppresident Ilham Aliyev said on 12 January in the Cabinet of Ministers; meeting dedicated to the summary of socio-economic development of the country in 2007 and plans for 2008.
"It is very important figure," said Aliyev.
According to Aliyev, the income of the population increased by 38% and taking into account the inflation, active income made up 22%.
"However, the income of the population is not distributed equally, because the level of poverty in the country is 16%", said Aliyev.
"We must keep macroeconomics in a stabilized level in 2008," the President stated.
The dramatic increase in the oil prices has a great impact on the ongoing processes which leads to rise in the prices of import goods, said the President. The consumer market of the country is still greatly dependant on the import. The programs on the development of regions, industry and entrepreneurship are aimed at reducing the dependence of the country from the import as much as possible.
"In 2007 the cost of the grains increased by 50% worldwide, which had a bad impact", the President said.
Not only objective, but also private reasons promote rise in inflation and this problem should be solved. "The principles of the strong competition must be completely determined and the striving for the monopoly must be liquidated," President said.
The President expressed his hope that the inflation in Azerbaijan will be in a normal level in 2008.