He said that under an instruction from the country’s president, the enterprises importing and selling grain, and those producing and selling flour were exempt from VAT starting from Jan. 15, in order to improve the social welfare of the low-income segments of the population.
“Previously, the wholesale price of a 50-kg bag of flour varied between 25.5 and 26.7 manats, but now it costs 21.5-22.5 manats. This has certainly had an impact on retail sales of flour. For example, the cost of a 50-kg bag of flour was reduced from 28-29 manats to 23-24 manats,” he said.
Reduction in the cost of flour, as Naghiyev said, also affected bread’s price.
Earlier, the retail price of a 500-gram and a 700-gram bread was 0.40 manats and 0.50 manats, respectively, whereas today these prices have gone down to 0.30 manats and 0.40 manats, and this is economically reasonable, he said.
Naghiyev went on to add that the Economy Ministry is taking all the necessary measures to prevent any artificial overpricing, and for this purpose the ministry regularly holds monitoring along with relevant state agencies, including the Prosecutor General’s Office.
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