PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of May 31, 2005 No. 242

About strengthening of anti-inflationary measures in the Azerbaijan Republic

As a result of performed in recent years in the Azerbaijan Republic of purposeful economic policy social and economic development of the country accelerated, serious success in development of regions and entrepreneurship are achieved, the amount of investment investments in economy considerably increased, notable promotion in development of not oil sector, creation of new workplaces, increase in the income of the population and reducing level of poverty is reached.

Along with it, since last months of last year, growth of consumer prices exerting negative impact on fixing of success achieved in the country in the field of economy and consumer capability of the population is observed. Excess by inflation of the expected level is connected generally with rise in price of import goods as a result of influence on production expenses of advance in price of crude oil in the world markets, increase in amount of the money supply which is in circulation and insufficient development of the mechanisms of attraction of excessive money supply to different financial instruments, with imperfection of structure sent to economy of investments, insufficiency of fight against monopolism in production, trade and import and export transactions, etc. by the reasons.

For restriction of negative impact of the factors increasing the rate of inflation for social and economic life there was need for implementation of number of the important measures connected with strengthening of control of increase in money supply in the address and expenses of the government budget, more effective management gradually of the financial resources of the country, forming growing in result of successfully performed oil strategy in economy of healthy competitive environment today.

For the purpose of preserving macroeconomic stability in conditions when economic development in Azerbaijan entered new stage, I decide mobilization of financial resources and increase in rationality of their use, protection of the existing favorable business environment and investment activity, and also social value of the performed reforms and the income of the population from pressure of inflation:

1. To the Ministry of Finance of the Azerbaijan Republic:

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