The rainy weather, as well as the hailstorms in several areas of Azerbaijan, caused serious damage to agriculture in the recent days. The Ministry of Agriculture is busy counting the damage.
The head of the Plant Growing Department Imran Jumshudov told Turan that, according to the observations and the information received, the greatest damage was caused to farms in the Imishli, Gadabey, Samukh, Tovuz and Agdam regions. This will affect the harvest of fruits, vegetables and potatoes. In the central areas grain has been beaten to the ground. According to the official representative of the Ministry of Agriculture, compensation is allocated to those farmers who have insured their crops on time. "Every year the state budget allocates 1 million AZN for insurance of the agricultural sector, including crops. Unfortunately, farmers are reluctant to enter into agreements with insurance companies, and therefore only a small portion of these funds is used."
According to regulations, a farm entering into an agreement with an insurance company pays 50% of the insurance, and the rest will be covered by the state budget. In the case of natural disasters and other calamities the insurance company pays the damages.
Every year, thousands of hectares in Azerbaijan suffer from natural disasters. - 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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