Azerbaijan preparing proposals to address negative consequences of devaluation

Azerbaijan is preparing proposals to address the negative consequences of devaluation, Azerbaijani MP Ali Masimli said March 15.

Masimli, who is also a member of the parliamentary committee on economic policy, industry and entrepreneurship, made this statement at a plenary session of the Azerbaijani parliament.

He said that the corresponding document is being prepared with the assistance of various specialists.

Masimli added that the document will include the proposals put forward during the committee and plenary meetings of the Azerbaijani parliament.

“The devaluation occurred twice in Azerbaijan in 2015 (in February and December),” he said. “I appreciate the activity of eliminating its negative consequences. But I think these actions are inadequate, because they are unilateral.”

He said that the country’s current processes following the devaluation are systemic.

“A systematic approach is required to solve the problems,” he said.

As a result of changes in the exchange rate of manat in 2015, the dollar rate increased by more than 97 percent.

Source: TREND