The population mastered another wave of price hike of food after the Tariff Council of Azerbaijan increased prices for gasoline and other excise goods on December 3 last year. However, most people could not cope with the artificial inflation processes and have to consume less than in the fall. In the spring they situation is worse to the poor, especially children and youth.
In February, food prices in Baku and other cities of Azerbaijan stabilized in anticipation of increasing on the eve of Novruz. Imported butter fell by 2%. Due to the winter season agricultural production rose by 5% (beetroots and beet) to 40% (cabbages) by March 1.
In comparison with the same period last year, food prices rose overall by 20%. The cost of meat, milk and dairy products, as well as bread, flour and flour products for a long time is not subject to change. According to experts, it is due not to government subsidies in the most mass-market sector, but to the fact that the authorities in advance set the bar high for the apparent stability.
Most noticeable difference is observed in the prices of imported fruits and vegetables. - 0 -
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review