Labor Minister touches on price growth matter


February 7, Fineko/abc.az. There is no serious threat of inflation.

ABC.AZ reports that the above-said statement was made by Minister of Labor & Social Protection Sahil Babayev at yesterday’s media conference.

The minister said that inflation is under control.

According to Babayev, governmental agencies, including the Central Bank, use appropriate financial instruments to maintain stability: "Last year, when pensions and salaries were increased, inflation was lower than our forecasts. Therefore, realization of a broad social package does not create serious risk of rising prices for our citizens. In 2019 the average salary and average pension increased by 15%, and social benefits and pensions doubled on average. But inflation made up 2.6%. This shows that citizens' incomes have grown 6-fold more than inflation. We don’t expect the risk of inflation. There are frames endorsed by the government, and the measures will be taken by the Central Bank and relevant governmental agencies to maintain inflation within this framework."