Bank Of Baku

Expensive imports hit construction materials market in Azerbaijan

Expensive imports hit construction materials market in Azerbaijan
# 09 June 2009 16:09 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Price increases and changes in the national currencies in neighboring countries have a negative impact on the construction materials market in Azerbaijan, said Ramil Osmanov, Executive Director of Property Market Participants.

According to him, there was a 5.8% increase in the construction materials market in may, he added.

“Along with changes in exchange rates, other factors like price rise in wholesale outlets and acceleration of the construction of private houses in April-May played a role,” he added.
According to him, the shutdown of illegal wood and parquet shops in provinces after a presidential order for strengthening the fight against illegal felling of trees has also played a role in raising prices. He added that the stabilization of prices is expected in late June.
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