The Chairman of the Central Bank of Azerbaijan Elman Rustamov received the World Bank mission headed by manager-practitioner of the financial sector and markets Rolf Berndt.
During the meeting they discussed the work done in the area of financial stability, the state of reforms in the banking sector, the credit portfolio of the World Bank in Azerbaijan and prospects for cooperation between the World Bank and the Central Bank.
According to the press service of CBA, the sides expressed satisfaction with the cooperation in the field of financial stability, the development of non-oil sector, inclusive economic growth, ensuring social security of population.
The sides also considered the implementation of WB projects in Azerbaijan, the impact of global processes on the economy, the World Bank policy in the new environment, and support to the countries - members of the World Bank. -0-
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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