NCDF Strongly Condemns Devaluation of Manat

The National Council of Democratic Forces (NCDF) criticized the decision of the Central Bank of Azerbaijan on the sharp devaluation of the manat. This decision devaluated wages, pensions and benefits of citizens by 34 percent, the NCDF statement said.  "This is really unparalleled policy of plunder by the Azerbaijani government against the Azerbaijani people,"  the document noted.

NCDF also pointed out that most of the 115 billion dollars received from oil sales in recent years were looted and assigned by a group of people in the higher echelons of power with the output in offshore zones.

The ruling regime besotted by oil revenues began to pursue a policy of suppression of economic independence and political freedoms in order to consolidate its power, the statement reads.

For the sake of monopoly they did not allow the development of free competition or creation of real conditions for the development of non-oil economy. The agriculture was destroyed in the interests of the officials managing the monopolization.

As a result of this predatory policy, the fall in oil prices created serious problems in the state budget, which is formed by revenues from hydrocarbons and transfers from the Oil Fund.

Now the authorities have decided to cover the budget deficit at the expense of the nation.

However, poor people who receive 150-200 AZN in salaries and pensions will have to pay for the luxury, rich, and sometimes provocatively arrogant life of the political regime.

NCDF asked the authorities to abandon the anti-national policy leading to price skyrocketing, high inflation and chaos and to report to the people on the use of the Oil Fund and the national strategic resources. -06D-