On March 2, President Ilham Aliyev signed a decree on application of the law on changes to the state budget, according to which 320 million manats will be allocated for currency regulation, which was not provided for the previous budget..
The preparation and organization of international sports competitions is to be allocated 403.2 million AZN that is 79.2 million manats more than in the previous edition of the state budget.
For the financial health of state enterprises, including an increase in registered capital, covering losses and consultants, not 117 million but 153 million AZN will be allocated.
The target budgetary fund Motorways will receive 261 million manats instead of 290 million manats.
The costs of the State Committee for Securities and the Financial Services Authority under the Ministry of Finance are excluded from the state budget. Built on their basis, the Chamber of Supervision of Financial Markets (public entity) will work on self-financing basis.
For the provision of soft loans to entrepreneurs 70 million AZN will be allocated, 4 million manats more than the same document provided.
About 1 million manats is savings from the merger of the State Flag Square and the Seaside Boulevard Office. ----08B
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review