Azerbaijan news

Will prices go down? – What did Samir Sharifov announce… |

Finance Minister Samir Sharifov announced 2 days ago that the prices in the country will be lowered administratively. According to him, many products imported to the country are partially exempt from excise duty free will be done or the rates of duties will be lowered. Consider that in 5 months of this year To Azerbaijan 5 billion 135 million 561 thousand manat products were imported.

Last year, our country had 22 in total billion Products worth 206 million 67 thousand manats were brought. This is from the volume of non-oil products exported last year 10 times more. This shows that the main part of products consumed in Azerbaijan is imported.

Therefore, if the excise rates and customs duties on imported products are reduced prices will drop significantly.

MP, economist-expert Vü, who shared his views on the issuesnow Bayramov said that “regulating the consumer market in general and optimizing prices are among the priorities of 2022.

The Cabinet of Ministers applies 2 new discount mechanisms to businessmen who produce products included in the consumer basket. This mechanism is both providing subsidies for the loans they receive and preferential credit related to the expansion of the portfolio. Of course, the main goal here is to increase local production and minimize dependence on imports. At the same time. One of the main goals is to strengthen state support in order to optimize the prices of imported products. Although it is not yet known what mechanisms will be used, these mechanisms will serve to lower the costs of imported products.”

The Cabinet of Ministers applies 2 new discount mechanisms to businessmen who produce products included in the consumer basket. This mechanism is both providing subsidies for the loans they receive and preferential credit related to the expansion of the portfolio. Of course, the main goal here is to increase local production and minimize dependence on imports. At the same time. One of the main goals is to strengthen state support in order to optimize the prices of imported products. Although it is not yet known what mechanisms will be used, these mechanisms will serve to lower the costs of imported products.”

Economist-expert Natig Jafarli told Bizim.Media that “in fact, it is logical to apply concessions to products that are not produced in Azerbaijan or are produced in small quantities.

It’s not just food, medicine includes preparations and non-food products. These are social oriented issues. When I don’t know what the government will decide, food products, medicine preparations and child it would be very good to apply concessions on the import of food. (Our.Media)

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