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At the meeting of the Accounting Chamber
The Accounting Chamber of AR meeting on January 8 discussed the expenditures of government funds allocated to the Azerbaijan State Oil Academy and the Institute of Genetic Reserves of the National Academy of Sciences.
They approved the results of audit materials of the depot in Baku city ambulance, in the department of housing and communal services of the Baku City Executive Power.
Taking the views and suggestions into account, they approved the work plan for the Chamber of Accounts for 2014.
Accounting Chamber of Azerbaijan, accountable to the country's parliament, has been effective since December 7, 2001 as the authority controlling budget spending in AR.
Senior officials (members of the Board, which consists of the chairman, his deputy and seven auditors) are elected every seven years.
Accounting Chamber of Azerbaijan, as a rule, is limited to general statements about the Board meeting, without giving specific figures and data. According to Article 6.0.3 of the Law of the Republic of Azerbaijan "On receiving information" ("Basic Principles of information"), the disclosure of budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. - 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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