SSC due to improve CPIC system - Bazel Zavoyko

Business Materials 5 April 2006 15:46 (UTC +04:00)

It is necessary to improve consumer price index calculation (CPIC) system to reflect real situation, Trend reports quoting Bazel Zavoyko, the head of the IMF Baku representation.

The State Statistic Committee (SSC) has more or less normal index calculation system.

It has no difference of inflation calculation mechanism with IMF. Nevertheless, some moments are due to be improved. There are defects in index of every country and when they ask technical aid, IMF advices to apply improvements. Azerbaijan does not differ from these countries, Zavoyko stressed. The head of the IMF Baku representation said despite some improvement, they continued the work with SCC in this respect.

According to SSC, at calculation of consumer price index its specialists base on the last handbook by IMF and the Organization of Economic Cooperation and Development. Therefore, SSC regard development of new methodology as inexpedient.

In early 2006 Michael Silver, the leading expert of the Statistic Department of the Fund, consulted SSC in this direction.