16:10 - 6.11.2023

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November 6, Fineko/abc.az. The inflation in Azerbaijan is expected to be single-digit by the end of the year.

ABC.AZ reports that Minister of Finance Samir Sharifov said at discussions on Draft State Budget 2024 at a joint meeting of the Milli Majlis Committees on Youth & Sports, Labor & Social Policy, on Agrarian Policy, on Regional Issues and on Natural Resources, Energy & Ecology.

According to Sharifov, the level of inflation in the country is a matter of concern to the government, and the President has given special instructions about it.

The minister noted that inflation has slowed down a bit this year: “Next year, compared to the results of the current year, inflation is expected to be halved, namely 5.3% inflation. The inflation in Azerbaijan was mostly caused by external factors. Currently, there are changes in these factors. From that point of view, as a result of the decrease in import inflation, these processes will be stabilized in our country. The state has taken a number of steps in the direction of mitigating these effects, especially in the social field.”