State Statistics Committee announced a significant reduction in September of production prices of processed tobacco and building fixtures. In retail sales, this trend is not reflected .
According to the State Statistics Committee, in September fermented tobacco companies began to offer the price is 25.1 % lower than in August. Local tobacco production in September was offered at the same price. Factory prices for construction steel rebar in September by 10.6 % lower. Dealers have not changed rebar prices, a ton of which is approximately 700 manat.
In general, in September production prices of industrial products increased by 0.4 %, while compared with the same month in 2012, these prices were down 4.6%. -08B-
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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