Following the closure of several banks and exchange offices, the employment centers of the Ministry of Labor and Social Welfare have been requested by 2,700 people, the Minister Salim Muslimov said. According to the Minister, these people were registered as unemployed, and they were assigned to the dole.
"There had been a very high salary. The salary was about 1,250 AZN. Within six months, the state will pay them 70 percent of their salaries," Muslimov said.
The Minister noted that Azerbaijan needs to adopt a law "On compulsory insurance against unemployment".
He noted that such a law will allow people to not be afraid of losing their jobs. -----71D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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