Respondents Dissatisfied with Level of Well-being

In the past year, the official consumer confidence index fell to 23.8 points against 25 for the second and third quarters of last year. For comparison - in the Middle East and even in Africa it ranges from 65 to 73%, in Europe - 74%, in the Asia-Pacific region - 73%, in Latin America - 56%.

According to the report of the Central Bank of AR on monetary policy in 2014, since January 2013 it adheres to this technique based on a survey of 4 250 households.

When measuring the respondents are balanced by region, income, employment, operating mode, education, age and sex. The index is part of the monitoring of the real sector, as well as attitudes towards welfare.

In Azerbaijan, it is impossible to calculate the index of consumer confidence due to the lack of a liberal economy, but the central bank wants foreign partners to think otherwise. According to the expert economist Vugar Bayramov, a decrease in consumer confidence is due to the low level of communication between the real economy and the consumer market. There is a dominance of imports and reducing the total volume of locally produced goods, as well as their share in the consumer market.

In world practice, due to the consumer confidence index employment trends and the general state of the economy are projected. In countries with liberal economies it is a leading indicator of the business cycle, and in Azerbaijan it is an attempt to show that "we are the same as you are." --17D-