The Board meeting of the Accounting Chamber of Azerbaijan (http://sai.gov.az/1/newsmore/456) discussed and approved the results of verification of the revenue and expenditure sides of the Sumgait Center of Ministry of Labor, CJSC Baku Metro, one of the research institutes of the National Academy of Sciences and the Ministry of Foreign Affairs of Azerbaijan.
The Azerbaijani Accounting Chamber, accountable to the parliament, operates from 7 December 2001, as a body, controlling the budget expenditure.
The managerial personnel (members of the Board, which consists of Chairman, his deputy and seven auditors) is elected every 7 years.
This body is usually limited to generalities about the Board meeting, without giving specific figures or data. According to Article 6.0.3 of the Law of Azerbaijan Republic "On obtaining information" ("Basic Principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Accounting Chamber. --17D-
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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