State Statistical Committee: "Inflation rate will not top 22% by the end of the year"

He also noted that the foodstuffs price range on the world markets will influence the Azerbaijani market "as most foodstuffs are imported from abroad".

"Azerbaijan supplies only 45% of foodstuffs, while the remaining part is imported to the country from abroad", he told reporters Tuesday.

The acting chairman also noted that oil production reduced in the country in the result of drop in oil prices on the world markets. "We expect the rise in oil production after the rise in its prices", said he.

Veliyev added that poverty rate is expected to drop in Azerbaijan. "Poverty rate will reduce to 13%", said active chairman.

The poverty rate in Azerbaijan has reduced from 49 to 16% today.

"Novosti-Azerbaijan"