Azerbaijan predicts inflation will not to exceed 14% in 2009

Azerbaijan predicts inflation will not to exceed 14% in 2009
# 06 November 2008 14:08 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Inflation is projected to be around 12-14% in Azerbaijan next year, said Shahin Mustafayev, Minister of Economic Development.
According to him, inflation is expected to drop to single digits in the medium term.
To reduce the impact of inflation and to improve the social welfare of the population, it is planned to implement several measures in 2009-2013.
“The population’s income is predicted to increase by 22.5% to AZN 22.7 billion, and the average salary to rise by 26% to AZN 353.5 in 2009. The basic part of pension will reach AZN 80 and the subsistence needs criterion will rise to AZN 60.
The minister noted that the total expenditures for the Public Investment Program is AZN 22.4 billion for 2009-2012 and AZN 4.7 billion for 2009.
Although the Government of Azerbaijan predicted inflation at below 18%, annual inflation reached 21.5% at the end of January-September period this year.
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THE OPERATION IS BEING PERFORMED