In 2008- Advantage of Population’s Profits over Inflation to be Kept in Azerbaijan
Azerbaijan, Baku, 14 March /corr. Trend I.Khalilova / The Government of Azerbaijan is concerned about the growth rates of the inflation in Azerbaijan which has made up to 16.7% as a result of 2007, said the Prime Minister of Azerbaijan, Artur Rasizade, while presenting report at the Parliament with regards to the results of socio-economic development in 2007 on 14 March.
Such rates of increase of the consumer prices result from the processes in the world markets. According to the Prime Minister, increase in the prices for oil, foodstuffs and other commodities caused price increase for the products imported to Azerbaijan.
In addition, realization of many social and infrastructure projects, increase of the budget expenses, money mass also led to inflation growth. In such a situation, the key target was to ensure growth of population's money profits in order to ensure their advantage over the inflation.
"Last year the money profits exceeded 2.4 times the index of consumer prices and the Government intends to keep such tendency in 2008 as well," Rasizade said.
According to him, the State Head imposed tasks to strengthen anti-inflation measures, including liberalization of the regime of out-flow of the capital, preparation of the Code on Competition.
According to the forecasts of Azerbaijan's Ministry of Economic Development, inflation will make up 12-14% in 2008.
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