In January-September, the sector of information and communication technologies of Azerbaijan was invested 209.8 million manats, of which 61.2 million AZN regarded entities and structural units of the Ministry of Communications and High Technologies.
According to the ministry's Board meeting on the results of the first three quarters, so the amount of investment exceeded last year's index 2.2 times.
Total revenues of the ICT sector by October 1 amounted to 1 billion 280.9 million manats (+ 9.6% compared with the same period last year) with weight of 2.1% in the total GDP and 3% in the non-oil sector. At the same time 80.1% of the revenue was received in the segment of private businesses, mostly mobile telecom operators. --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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