TODAY.AZ / Business

Deputy PM: increase in imports to Azerbaijan due to growing purchasing power of population

16 May 2019 [11:35] - TODAY.AZ

By Trend

Inflation in Azerbaijan is not as high as the opposition claims, Deputy Prime Minister Ali Ahmadov told reporters, Trend reports.

According to him, Azerbaijan does not have such levels of inflation as the opposition claims: "With the beginning of the summer season, there is a decrease in food prices, which will continue in the future. The growth of imports, meanwhile, indicates that the purchasing power of the population is increasing."

The Deputy Prime Minister stressed that a significant increase has recently been observed in the volume of exports from Azerbaijan: "In Azerbaijan, the volume of exports significantly exceeds imports and the balance is positive. I consider this a positive trend. Import growth is explained by recent increases in wages, pensions and benefits. Meanwhile, business responds to demand by increasing imports."

Ahmadov added that the development of private entrepreneurship is associated with an increase in the number of people provided with work: "The development of the private sector implies the development of the economy. This will have a positive effect on the development of culture, art, and environmental protection. Major companies all over the world allocate large funds for science, culture, and education. It is not right to lay the responsibility entirely on the state. Entrepreneurs and businessmen should actively participate in solving problems of people's concern. They should contribute to the support of those in need and support development in the field science and education. I believe that our private business should not ignore these issues."

In January-April 2019, imports to Azerbaijan amounted to $4.55 billion, which is 50.3 percent more than in January-April 2018.

The share of the public sector in imports amounted to $1.78 billion, of the private sector to $2.52 billion and of individuals to $248.5 million.

The most popular products imported by Azerbaijan during the period included various machinery and equipment, vehicles and spare parts for them, ferrous metals and products made from them, wheat, plastic and plastic products.


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