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Inflation has gone up and it"s only the beginning
According to the law of the mutual influence markets in Azerbaijan followed not only an increase in regulated tariffs and prices for goods and services, but also on other goods and services, economists say. Therefore, in 2014, double-digit inflation is inevitable, they forecast.
According to the economist Gubad Ibadoglu in the coming days Tariff Board would raise the cost of public transport. Then will be raised tariffs on electricity, natural gas, water and other utilities. There will inevitably be more expensive food. Economists believe the prices of non-food products and services will also jump, and this will strike the standard of living of the poor. While the population has not responded to the government's decision. Drivers are getting used to new prices of gasoline and diesel fuel.
The government , which forecasts socio-economic development with the inflation rate by 3.5%, cares primarily about the completion of the state budget not due to taxes on the growing income of economic actors, but through additional spending by the population. Inflation will bring to the state budget for 2014 approximately 700-800 million manat, says economist Rovshan Agayev. However, due to the consumption of budget organizations the costs for utility tariffs will increase by 350 million manat.
The driver of shuttle number 96 in Baku says that the company Transgate today will require the same amount of daily plan from him, despite the fact that diesel fuel went up by 33.3 %. Drivers themselves buy fuel for their revenue. "If tomorrow, or the day after the fare will not be increased, then the drivers will stop work," he said. - 08B-
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- Social
- 3 December 2013 11:59
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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