In 2013, the state budget received 52,900 manat in the form of dividends on state-owned enterprises privatized. The amount of dividends reduced since 2010.
According to the State Committee on Property (SCP), which manages the state shares in privatized JSC, in 2013, income from dividends decreased 10%. In 2010, the state shares in partially privatized JSC brought to the state budget 106,800 manats.
Privatization of state-owned enterprises shares began in 1998, and dividends have been received since 2010. Since that time, the total dividend amounted to about 1.2 million manat.
Through SCP, 1,599 JSC were established on the basis of state-owned enterprises, including 5 JSC in 2013. According to the SCP report, in 2013 the state had shares (20-45 % or more) in about 300 JSC. On cash auctions were sold shares of 41 JSC, on specialized cash auctions - 5 JSC and at investment competitions - 3 JSC.
Most JSC, in which the state has a stock share, are idle. Almost 99% of these companies are located outside the city of Baku. -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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