Chairman of the Center for Economic and Social Development (CESD), Vugar Bayramov on passing these days in Cairo (Egypt), the next forum "think tanks" of Islamic countries opposed the idea of release of a single currency and a single economic space in Islamic countries. In his view, these ideas are without economic basis.
Introducing Online Azerbaijan as an independent think tank representative, Vugar Bayramov spoke on "Economic difficulties prospects of resource-rich Islamic countries." He stressed that the Islamic world, where the science is not well developed and there is no access to high technologies, inferior to the West in economic indicators. Gross national domestic product of 57 Muslim countries is two times lower than the U.S. GDP. According to the UN human development index, countries of the Muslim world are not even in the top thirty. For example, Azerbaijan ranks the 82nd on the index.
Besides CESD, Azerbaijan is also represented by the Center for Strategic Studies under the President of Azerbaijan. - 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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