Baku/05.12.13/Turan : In 2012 in Baku closed 224 stores for retail sale of food and non-food items . Traders say it is the result of expansion of supermarket chains, as well as " tax burden " on small business.
In the State Statistics Committee they told Turan that at the beginning of this year in Baku operated 20,095 stores, which is 1.2 % less than in 2011 . The total area of ??commercial facilities increased from 1,651,000 square meters to 1,710,000 sq m (+3.5% ) . Five years ago in Baku operated 17,624 stores with a total area of 1,554,000 sq m. Besides, for 5 years, the number of stalls in the capital has increased from 1,297 to 1,346 units (3.7 %).
Total in 2012 in Azerbaijan there were 59.6 thousand stores with a total area of ??2,959,000 sq m. During the year the number rose by 3.1%. For five years, the number of stores increased by 22.7 %. The area of retail properties increased by the same amount . - 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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