Azerbaijani President returns to Parliament the bill on currency export

The bill on amendments that impose restrictions on exporting currencies from Azerbaijan was returned to Parliament at the request of entrepreneurs and investors, said the service of the assistant of the head of the country on economic reforms.

According to the service, the President took this step with "account of numerous requests of entrepreneurs and investors," and in accordance with Part 1, Article 110, of the Azerbaijani Constitution, which provides the President with the right to return bills, which cause his objections, back to the Parliament.

The "Caucasian Knot" has reported that on December 21, 2015, the Central Bank of Azerbaijan transferred the exchange rate of the manat into the floating mode, as a result of which its rate versus dollar and euro dropped by almost half. Azerbaijan saw an increase of prices on foodstuffs and non-food products. Most commercial banks stopped selling dollars and euros.

Fazil Gazanfaroglu, an MP and the head of the "Great Creation" Party has treated the President's decision as "the right step." Now, according to his version, the Parliament should re-consider the bill with the President's objections.

Let us note here that on January 15 the Azerbaijani opposition stated, after protests in a number of regions, the need for urgent anti-crisis measures. On February 7, the opposition proposed a "roadmap" for driving the country out of crisis.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.