President Ilham Aliyev's decree dated 15 December allocated Sumgait City Executive Power AZN 5 million for repair work on the replacement of the roofing of 100 apartment buildings.
The funds are allocated from the Reserve Fund of the President of AR in the state budget for 2015.
This is the second presidential decree on the allocation of funds to the Sumgait Executive Power after changing its leadership on September 2nd. Previously, the EP received AZN 3.7 million from the state budget to replace 76 lifts in apartment buildings belonging to the state housing fund.
This year, funds from the Reserve Fund for capital repairs of apartment buildings have also been allocated to the EP of Mingachevir and Lankaran, as well as Ujar, Goychay, Kurdamir and Khachmaz. --08D--
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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