Finance Ministry: “Major part of inflation in Azerbaijan is imported”

Inflation in Azerbaijan exceeds the established level, and most of it is imported.

This was stated by Deputy Finance Minister Azer Bayramov on June 4 during the discussion of the draft law on the execution of the state budget of Azerbaijan for 2021, according to Baku-based Report agency.

“As a result of the reforms carried out by the Ministry of Economy and the State Tax Service in recent years, today we can ensure the growth of our income in real and nominal terms, adequately to GDP,” Bayramov said.

He noted that the prices indicated in the forecasts for the oil sector are known, and "we are lucky that the price is quite high."

“The result is significant growth. Taking into account the peculiarities of recent years, we believe that this process will continue this year as well,” Bayramov said.