Azerbaijan has allocated funds to create a reserve in the field of food security, Finance Minister Samir Sharifov told reporters, Trend reports.

"Given the rise in prices for food products, 193 million manat ($113.5 million) was allocated for this purpose within the amendments to the state budget for this year," Sharifov said.

According to him, the government, following the instructions of the President Ilham Aliyev, has prepared and is implementing several anti-inflationary measures.

"Most of them are aimed, first of all, at the elimination of existing customs duties and certain taxes on food products imported by Azerbaijan. Appropriate decisions are being made in this regard. We believe that as a result of these decisions, a price reduction will be achieved," added the minister.