Annual Inflation Continues To Be Low In First Four Months, Says Azerbaijani Finance Minister

2024-05-23 06:10:46

(MENAFN- AzerNews)

Ulviyya Shahin Read more

"Thanks to the successful policy of the President of Azerbaijan,despite the global geopolitical challenges, macroeconomic stabilityand fiscal sustainability were achieved in Azerbaijan lastyear."

Azernews reports that Finance Minister SamirSharifov said this at today's meeting of the Economic Policy,Industry, and Entrepreneurship Committee of the Milli Majlis.

The minister noted that, thanks to the steps taken by thegovernment of Azerbaijan, the average annual inflation fell to asingle-digit level last year.

"Successful anti-inflation measures continue this year. Annualinflation continues to be low in the first four months. Last year,GDP growth was recorded in Azerbaijan, and all of this growth wasdue to the non-oil sector," the minister added.

Finance Minister Samir Sharifov noted that in the last 5 years,the expenses of the state budget have increased to 12 billion, 32million manats, or 50 percent. This is quite a significantincrease.

The minister said that 55.6 percent of last year's state budgetexpenditures were current expenditures, 41.2 percent were capitalexpenditures, and 3.2 percent were expenditures related to statedebt and obligations.

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