7,772 competitive public procurement transactions were carried out in Azerbaijan in 2016, which is 6.8% less than in the previous year, according to the Ministry of Economy.
The total amount of procurement contracts was 1.7 billion manat that is 129.5 million, or 7.1% less than the estimated cost. Compared with 2015, the volume of procurement on a competitive basis increased by AZN 379 million, or 28.5%. The savings increased by AZN 75.8 million last year.
The bulk of the purchases were carried out by a quotation poll – 5,766. They accounted for contracts totaling 121 million manat or 7.1% of the total volume of tenders in 2016.
At the expense of state budget, 6,831 competitive procurement transactions were carried out for a total contract amount of 1.4 billion manat. 95.2 million manat of state budget money was saved, according to the Ministry of Economy. - 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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