September 13, at the State Securities Committee (SSC) they will sign an agreement on technical assistance project of modernization of the capital market. Donations are ready to be provided by the Swiss government.
In the SSC told Turan, that technical assistance will be provided to the two components of the project: updating the legal and regulatory framework and promoting supply of capital.
The above-mentioned project has been prepared within the framework of the State program of development of the securities market in Azerbaijan in 2011-2020.
Loan agreement with the World Bank in the framework of the project "Modernization of the Capital Market" was signed in September 2011. The total cost of the project is $ 15.8 million, including $ 12 million allocated by WB. Swiss Secretariat for Economic Cooperation provided a grant for the project - $ 1.6 million. The share of the Azerbaijani government in the financing of the project is $ 2.2 million.
Currently, the candidate selected as the consultant of the SSC project is considered by the World Bank. - 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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