The Accounts Chamber approved the audit report on the audit of the use of funds in the framework of the project "Support to the development of water user associations (WUA)", implemented from 2011.
In the statement released on the results of the audit it is noted that the project has achieved the quantitative objectives, but the same cannot be said of the quality indicators. This includes coverage of the project, increasing the yield of cultivated areas and raising funds for the maintenance of the irrigated lands, providing irrigation water to crops, as well as the sustainability of measures to develop the capacity of the WUA.
The AC does not give a single concrete example to these phenomena. It does not inform about the theft of funds either.
Azerbaijan has received a World Bank loan in the amount of 80 million US dollars for the project "Support to the development of water users' associations". The government has also funded the project from the state budget and allocated $ 34 million. In 2011-2015 $ 90.5 million was used. The project is extended for another year. --08D--
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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