“It is said that the price of bread will rise due to the shortage of grain in Kazakhstan and Russia and possible restrictions on the import of wheat from these countries to Azerbaijan. We have established quite constructive relations with Russia and Kazakhstan and have avoided any problems that may exist in terms of imports, but uncertain conditions in the world economy, especially price changes, put great pressure on the domestic market in conditions of import dependence.
These views were expressed to Bakupost.az by the Director of the Center for Innovative Economic Research of Azerbaijan Technical University, Professor Elshad Mammadov.
He said that if there are significant price changes on the world market, price increases in Azerbaijan will be inevitable. Therefore, it is important to increase and stimulate production.
According to E. Mammadov, the state is taking some measures to maintain stable prices for strategic products by appropriate tax cuts, reduction or zeroing of customs duties. However, the dependence on imports determines price uncertainty on the market:
“I think that the traditional increase in demand for bread in the autumn-winter months will put pressure on prices. If we provide the necessary reserve fund, it will be possible to keep the price of bread stable, at least in the near future.”
