Inflation `not to top 22%` in 2008
Inflation will not exceed 22% in Azerbaijan in 2008, the acting
chairman of the State Statistics Committee has said, despite
worries that the figure could be higher.
Arif Valiyev said that the falling prices in world markets, fueled by an economic crisis, are affecting Azerbaijan as well, as a lion`s share of food consumed in the country is imported.
Azerbaijan produces only 45% of foodstuffs locally, which could not but affect domestic prices.
According to official estimates released last month, inflation was 13.9% in the country in January-September.
Arif Valiyev said that the falling prices in world markets, fueled by an economic crisis, are affecting Azerbaijan as well, as a lion`s share of food consumed in the country is imported.
Azerbaijan produces only 45% of foodstuffs locally, which could not but affect domestic prices.
According to official estimates released last month, inflation was 13.9% in the country in January-September.
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