TODAY.AZ / Business

President Ilham Aliyev signed decree on strengthening anti-inflation measures

02 June 2005 [13:39] - TODAY.AZ
President Ilham Aliyev signed a decree on strengthening anti-inflation measures.
According to the information provided to APA from the press-service of the President’s Office, the duties were laid before the certain ministries.

The president noted that the order followed the purpose to save the macroeconomic stability in the new period of economic development in Azerbaijan, to mobilize the financial reserves and to increase the efficiency of using them, to save the present suitable business environment and investment activity, including the significance of the social reforms being realized and income of the population from inflation.

The head of the state commissioned the Finance Ministry to direct means entered the state budget from the State Oil Fund to execution only of those purposely projects which intended to be financed by the same Fund, to organize issue of the middle and long-term state loans, domestic lottery-loans and other securities taking into consideration the conjuncture of the financial market and the inflation level, to prepare and present to the president the offers related to increasing the volume of the state securities significantly till the end of the current year. Realizing the measures directed to improving the structure of the expenses when composing the state budget for 2006 and next years, reducing the administrational expenses and not increasing the non-oil deficit in the review budget, increasing the size of financial means directed to financing the projects of the production infrastructure in the state budget projects, providing the growth of the financial resources of the Aid for Entrepreneurship National Fund and the social protection of the families of scanty means also is reflected in the order.

The National Bank is commissioned to regulate the size of the capital being in turnover, to expand the securities market and to conduct the necessary measures for raising the notes belonging to it, to realize the corresponding measures for improving the mechanism of determining the rate of manat in comparison with foreign currencies, to prepare and present the project of the State Program on forming a mortgage credit system for the purpose of improving the living conditions of the population and directing the free capital to the real estate market to the president during one month. At the same time, the National Bank should prepare with the Taxes Ministry and present to the president the offers for the purpose of realizing the juridical, administrative and organizational measures for preventing reckoning with foreign currencies in the trade operations and trade nets.

The Economic Development Ministry should strengthen its activity in the direction of struggling against monopolism in the country and forming the strong competition environment and take serious measures against the persons violating the legislation in that field. This ministry should realize the measures stimulating production of the processing industry and competition capable agriculture together with the Agricultural Ministry, Industry and Energetic Ministry and the local executive power organs in the frame of the “State Program of social-economic development of the regions of Azerbaijani Republic (2004-2008)” for the purpose of providing rapid development of the non-oil sector, paying more substantially the diversification of the export and demand of the population on the account of the local production and should inform the president about it periodically.

The Taxes Ministry and the State Statistics Committee should hold a joint monitoring of the import, retail and wholesale prices of consumer goods brought to the country and must generalize its results and print in the media once in a term.

At the same time, they should define the important infrastructure projects estimated to be implemented in the frame of the investment programs for 2006 and the next year and their financial sources (as well as by the account of allocation of State Oil Fund of Azerbaijan Republic) within three months in cooperation with the corresponding state organizations and submit to President.

The state property should be evaluated objectively on the basis of market principals, relevant measures should be implemented to increase the incomes to the state budget from this sphere and the suggestions should be presented to head of state.

The Cabinet of Ministers should prepare the suggestions on efficient using of the allocation entered the state budget by the account of the difference between the sale price of the oil exported till the day of decree issue and the price estimated for budget calculations and collected in the special account of treasury within for a month and present to the President and make exact the list of goods (measures, services) the prices (tariffs) of which are regulated by state, deliver the new project of the Regulations about Tariff Council to the President for affirmation within two months in order to achieve prompt activity of the Tariff Council. The suggestions on making corresponding amendment to the legislation concerning simplification of state registration of juridical persons appointed for fulfilling this activity concerning the acceleration of entrepreneurship in the country and shortening the time for this should be presented to the President within two weeks. Suggestions on abolishing needless tariff concessions in order to improve customs-tariff mechanism on import goods and the concessions being made through covering concrete field and period should be presented to the President within two months. The suggestions on implementation of corresponding investment projects by internal financial sources on the purpose of decreasing the influence of the needless money in the circulation, the draft law on “State debt” should be made within two months, the suggestions on much more restricting the cases of free of tax within a month, the raft of Rivalry Code should be made within a month.

The Ministry of Taxes has been charged with providing the accounting of the payments for goods sale and services in accordance with the rule in the legislation and strengthening of controlling over employing of physical persons without labor contract in cooperation with Ministry of Labor and Social Protection of Population.

The Ministry of Taxes and State Customs Committee have also been charged with reinforcing the fighting against tax and customs evasions and implementing necessary measures in the context of their authorities. The State Customs Committee has been charged with simplifying customs procedures and application of automatic management system in customs officialzing, collecting the customs by means of payment cards, ensuring the transparency in import-export operations by means of applying broker institute, informing the President about the measures implemented in this field for two times a month. The heads of executive powers of Baku, Ganja, Sumgayit and other big cities of the country were charged with organizing Fairs on free sale of agricultural products and daily consumption goods in the different parts of the city once a week in cooperation with the corresponding municipalities, under the decree.


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