Official: Azerbaijan’s shadow economy down to 15 percent
By M. Alkhazashvili
(Translated by Diana Dundua)
(Translated by Diana Dundua)
Tuesday, January 29
Azerbaijan’s shadow economy accounts for just 15–16 percent of the country’s economy, down from a previous estimate of 18–20 percent, according to Arif Veliev, chair of the State Statistical Committee, the news agency Today.AZ reports.
According to Veliev, in 2007 inflation in Azerbaijan reached 16.17 percent, partly due to the rise in world prices as 45 percent of Azerbaijan’s goods are imported, he said, according to the news agency Regnum.
According to Veliev, in 2007 inflation in Azerbaijan reached 16.17 percent, partly due to the rise in world prices as 45 percent of Azerbaijan’s goods are imported, he said, according to the news agency Regnum.