Today, Chairman of the Cabinet of Ministers Artur Rasizade speaks to deputies of Milli Majlis of the government's report on last year's activities.
According to him, during the reporting period, Azerbaijan had trade relations with 165 countries of the world, with 47% of turnover to 60% of exports - the specific weight of the European Union (EU).
The national economy was invested the equivalent of about 16 billion manats, including 7.1 billion AZN in oil and 8.38 billion manats in the non-oil industry.
The Premier stressed defense spending at 3.3 billion manats, because "in the current environment it is a priority for the Government." According to him, the country's defense industry produces more than 1 thousand items of specialized products. --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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