Finance Ministry: "Main part of inflation in Azerbaijan is imported"

Inflation in Azerbaijan is higher than the defined level, the main part of which is imported inflation, Deputy Finance Minister Azer Bayramov said during the discussion of the draft law on the execution of the state budget of Azerbaijan for 2021 at a meeting of the Parliamentary Committee on Economic Policy, Industries and Enterprising, Report informs.

"As a result of the reforms carried out by the Ministry of Economy and the State Tax Service in recent years, today we can increase our incomes adequate to GDP not only at the level of real growth but also at the level of nominal growth," Bayramov said.

According to him, the forecasted oil prices are known: "We are lucky that the price is quite high."

"As a result, there are significant increases. Given the characteristics of recent years, we believe that this process will continue this year," he said.