Chingiz Salehli
Azerbaijan State Oil and Industry University
Masters’ student
https://orcid.org/0009-0009-0145-0920
salehlichingiz@gmail.com
Price Regulation System in Azerbaijan: Instruments and Development Directions
Abstract
The study focuses on the comprehensive transformation of the state price regulation system in Azerbaijan, driven by the need to adapt to the global challenges of the 2019-2025 period. The research covers mechanisms for countering external shocks, such as the consequences of the COVID-19 pandemic, the global energy crisis, and increasing geopolitical instability. It provides a detailed insight into the effectiveness of the existing hybrid model, which harmoniously combines tariff regulation tools, stringent antimonopoly control, and the implementation of targeted socio-fiscal programs.
Based on current macroeconomic indicators, including foreign trade turnover data amounting to 47.6 billion USD, a profound correlation between export market conditions and domestic inflationary dynamics is traced. A comparison of national approaches with the practices of the European Union, Türkiye, and the Gulf countries allows for the identification of the most promising development vectors. The concluding part emphasizes the necessity of implementing automated tariff indexation methods, digitalizing price monitoring, and strengthening anti-cartel measures in accordance with OECD standards. The proposed transition to a system of targeted regulation based on real-time market data serves as a foundation for ensuring long-term macroeconomic stability and protecting consumer interests in an environment of high uncertainty.
Keywords: price regulation, inflation, Tariff Council, antimonopoly policy, foreign trade turnover, import dependence, external shocks, Azerbaijan