Currency Reserves of Azerbaijan Increased by $ 3.6 Billion for Seven Months
Baku / 03.09.17 / Turan: Azerbaijan's currency reserves increased by $ 3.6 billion in January-July 2017, Azerbaijani President Ilham Aliyev said.
"For seven months the currency reserves of Azerbaijan increased by $ 3.6 billion," the head of state said at a national meeting on development of tea, rice and citrus production in Lankaran on September 3.
So, as of August 1, Azerbaijan's strategic currency reserves amounted to $ 41.2 billion, while as of January 1, 2017 this indicator was at the level of $ 37.6 billion.
The President also stressed that in recent years, entrepreneurs in Azerbaijan have been granted concessional loans for AZN 2 billion.
"The level of poverty in the republic decreased to 5%. 1.6 million new jobs were opened, which significantly reduced the migration of rural population to the cities," Aliyev said. At the same time he pointed to a new trend - the reverse migration of people from cities to rural areas.
According to the head of state, the scope of gas supply in Azerbaijan has reached 93%. -06D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review