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Azerbaijan to reconsider state-regulated medication prices

Azerbaijan to reconsider state-regulated medication prices

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Date: 21 December 2015 17:32

Baku, Azerbaijan, Dec. 21

Trend:

The state-regulated medication prices will be reconsidered according to the new rate of the manat to the US dollar, the Azerbaijani Tariff Council told Trend Dec. 21.

"The medication prices are formed on the basis of prices in ten basic countries - Turkey, France, Italy, Spain, Portugal, Greece, Poland, Hungary, Bulgaria and Slovenia,” the council said. “The medication is purchased in foreign currency, so there is a need to revise the prices."

The Central Bank of Azerbaijan switched to the floating rate of the national currency (manat) from Dec.21, 2015.

As a result, the exchange rate of the US dollar and euro to manat rose by 47.6 percent and 47.9 percent and stood at 1.55 manats and 1.685 manats, respectively.

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