Azerbaijan Minister of Finance: "Dollar depreciation pushes consumer prices up"

The consumer prices hike in Azerbaijan is fueled by the world market inflation and influx of money into circulation, said Ziyad Samadzade, chairman of the parliament commission for economic policy at a parliament session on the 2008 budget re-adjustment.

According to him, the current trends continue to increase inflationary pressure.

"Inflationary pressures should be measured correctly. Where inflation exists, there is economic growth and activity,” he added.

Samir Sharifov, Minister of Finance, added that inflation is fueled by the US dollar depreciation.

"The US dollar underlies the revenues of Azerbaijan. Naturally, the depreciation increased consumer prices," he added.

/APA/