The conference on the results of the fourth year of the "State Program on socio-economic development of Azerbaijan in 2009-2013" took place in Baku Business Centre under the chairmanship of President Ilham Aliyev.
An exhibition dedicated to the work done in the years 2003-2012 reflected the work of the main indicators of social and economic development in individual sectors of the economy such as industry, infrastructure, information and communications technology, agriculture, social development, tourism, etc.
It was noted that in the years 2003-2012, GDP increased by three-fold, including the non-oil sector - 2.4 times, and the average monthly wage increased by 5.1 times. During this period, the strategic currency reserves increased to 28.8 times, and reached $ 46 billion.
Ilham Aliyev made an opening speech. Full report from the event will be given this evening. -02D-
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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