In the two months of this year, the market for local government and corporate securities in Azerbaijan amounted to 527 million manat. It is only 16.2% compared to the same period in 2014. This is due to the loss of investor interest in debt securities due to their low liquidity.
According to the State Securities Committee, the turnover of corporate securities decreased slightly, by only 3% to 474 million manat. In this exchange and OTC market shares based on their placement (total 24.8 million manat) decreased by 89% .The corporate segment of the securities market is held due to the secondary trading of credit institutions and the Mortgage Fund. From the beginning, the share of the secondary market was 92% of corporate trade.
This year, the volume of trade government securities (53 million manat) is only 2% against the same period of 2014, as repo operations on notes of the Central Bank has been stopped.
A downturn in the stock market leads to a loss of income of professional participants. Many investors do not seem interested in this market, as it is not secure and the most sensitive to adverse economic developments. ------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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