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Azerbaijan to take measures against artificially inflated prices

Azerbaijan to take measures against artificially inflated prices

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Date: 24 December 2015 15:52

Baku, Azerbaijan, Dec. 24

By Samir Mammadov – Trend:

Appropriate measures will be taken regarding those who will artificially inflate prices in Azerbaijan after the devaluation of the manat, executive secretary and deputy chairman of the ruling New Azerbaijan Party (YAP), Azerbaijani deputy prime minister Ali Ahmadov told reporters Dec.24.

The inflation is connected with the recent decision by the Central Bank of Azerbaijan.

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 on the mentioned day.

He said that some people want to take advantage of the situation after the devaluation, for their own purposes.

“This is wrong,” said Ahmadov. “The president of Azerbaijan has already expressed his attitude to such people. The government of Azerbaijan, the relevant structures will take measures against those who, taking advantage of the situation, try to raise the price for goods without any reason.”

These measures will be adopted within the framework of the law, he said.

“We must try so that Azerbaijani citizens would not face difficulties,” said the deputy prime minister. “Regarding the prices increase, I believe that they will rise slightly. In particular, there will be no significant growth in prices for local products. Maybe some of the components of these products are imported in the foreign currency, and the rise in prices can be associated only with this.”

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