In January-October of this year through the State Service for the management of agricultural projects and credits (GSUSPK) preferential loans worth a total of 18 million 944 thousand manat were granted to farmers and agricultural enterprises, which is 13.6 % more than in the comparable period of 2015.
At the expense of the State Service’s own funds banks granted 179 loans to agricultural producers, totaling more than 9 million AZN, 35% less than for the comparable period of 2015. In addition, within the framework of international projects managed by the State Service, 49 entrepreneurs have received loans of 9.8 million manat (+3.6 times).
GSUSPK has operated under the Ministry of Agriculture since 2007. Its administration has 65 million manat of budget funds. In 2016, the Service received AZN 5 million from the state budget. -----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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