DUSHANBE, November 9, Asia-Plus — Over the past several months, inflation in Tajikistan has risen 2.5 percent, reaching 14.9 percent, Murodali Alimardon, Chairman of the National Bank of Tajikistan (NBT), remarked at a news conference in Dushanbe on November 8.
The central bank head noted that in connection with inflation rate growth the NBT will change refinancing rate. “The NBT will change interest rate for crediting commercial banks and other loaning organizations, which is used as instrument of regulation of monetary system,” Alimardon said.
“We intend to increase refinancing rates and take measures to stabilize prices,” the central bank head said, adding that they will announce an exact interest rate within the next few days.
He also called on the population not to panic over rise in prices of flour and cooking oil on the country’s markets. According to him, the food product prices have to date flattened out.
“The prices have reached the maximum point and will not rise any more,” said Alimardon. “Over the last years, prices of wheat flour and grain were stable and have begun rising since September this year as a result of world market trends. To meet our domestic requirements in flour and grain we have to import them at prices dictated by world market trends.” Rise in prices of other basic food products is also to be observed on world market.
The government is taking all adequate measures to provide the population with flour, the central bank head said. He assured that the country’s requirements will be met completely. “Moreover, we plan to increase grain and flour deliveries by 150,000 tons. Contracts have been concluded and financed,” said Alimardon, “110-120 somonis [for a 50-kilogram sack of wheat flour] is the maximum price and it will not rise.”
According to him, compared to 2006 Tajikistan will have imported 9,000 tons more wheat flour this year. Grain and vegetable oil supplies will also be increased by 6,000 tons and 45,000 tons respectively.
