In January and February 2016 SOCAR has transferred 215,882,000 AZN to the state budget ($132.4 million at the current rate), SOCAR told Turan.
In January and February 2015 SOCAR’s transfers to the state budget of Azerbaijan totaled 226,729,000 AZN ($251.9 million at the average rate then).
In February 2016 SOCAR transferred 98.2 million AZN to the state budget (108,227,000 AZN in February 2015).
In February 2016 SOCAR transferred 10,922,000 AZN to the State Social Security Fund (11,534,000 AZN a year ago). In January and February 2016 SOCAR’s transfers to the Social Security Fund totaled 21.05 million AZN (23,465,000 AZN during the same period last year).—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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