Elman Rustamov: "Inflation rate will near 12% in Azerbaijan next year"

He noted that the indicated level will be a maximal limit.

"The National Bank intends to use means of state economic policy to reduce the predicted inflation rate".

Moreover, according to him, the growth of inflation is due to some external factors, in particular, high level of "imported" inflation.

"Factors which cause inflation include rise in prices of goods and foodstuffs on the global market, disbalance of demand and supply, as well as the recent rise in prices on energy sources.

The National Bank of Azerbaijan considers that 7% inflation rate in Azerbaijan in 2007  was due to the importation factor. If not for the "imported" inflation, this indicator would be about 10%", the head of the National Bank of Azerbaijan said.

/APA/