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BAKU: Oktay Asadov: We Save Money For War

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  • BAKU: Oktay Asadov: We Save Money For War

    OKTAY ASADOV: WE SAVE MONEY FOR WAR

    Turan Information Agency, Azerbaijan
    February 24, 2015 Tuesday

    Baku / 24.02.15 / Turan: The central issue of today's meeting of
    the Parliament was the financial crisis that broke out after the
    devaluation of the manat.

    MP Igbal Aghazadeh demanded that the government of Azerbaijan
    should compensate for damage caused to citizens as a result of the
    depreciation of the national currency by 34%.

    The Central Bank of Azerbaijan on December 30, 2014 stated that the
    value of the national currency will not fall, and after less than
    two months it deceived the country's population, he said.

    The Antimonopoly Service of the Ministry of Economy and Industry
    said on artificially high prices by speculators. As a result of the
    devaluation bank depositors were damaged at 3 billion manat, despite
    the fact that the total amount of deposits of the population is 7.2
    billion manat.

    "I demand the government should offset the damage to the population
    in all areas, including indexation of wages and social protection
    for vulnerable people," said Aghazadeh.

    In response, the Speaker of the Milli Mejlis Oktay Asadov said
    that within two months the country's citizens was able to convert
    their savings, "and during this period there has been converted $
    4.5 billion."

    "The government kept the manat as much as it could. However,
    Azerbaijan is at war with Armenia and does not exclude the possibility
    of launching active military and other actions that may require
    additional funds. It is necessary to think about the future, we can
    not spend all of today reserves," said the speaker.

    "As far as I know, 70% of food production is domestic production and
    higher prices should not be applied. The Ministry of Economy and
    Industry is developing a plan to keep prices on the background of
    the devaluation of the manat," said Asadov.

    The MP Ziyad Samedzade said that the devaluation of the manat was
    "a necessary step", given that the price of oil in the state budget
    in 2015 is laid at $ 90.

    "Now oil prices do not exceed $ 60. If it continues, by the end of the
    year the budget deficit will amount to 7.6 billion manat. CBA annually
    spent 2-2.5 billion manat for retention of the national currency.

    However, permanent measures could lead to depletion of the reserves,"
    said Samedzade.

    MP Vahid Akhmedov blamed the central bank for the situation. "Until
    the last days the CBA promised that the dollar rate would not exceed
    0.9 manat. But it immediately reduced the cost by 34%.

    I believe that the government should take urgent anti-crisis measures
    to prevent the growth of prices, which has now become the most serious
    problem, Akhmedov said. -02D-

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