According to the report of the Cabinet of Ministers, published in the run-up to its consideration by the parliament, in the past year the government received $741.1 million on the basis of three loan agreements under the state guarantees from international commercial and financial organizations
The balance is as follows: the Czech group of Societe Generale provided 458.86 million Euros, the Japanese corporation Sumitomo Mitsui Banking Corporation - 132 million Euros and the head office of Societe Generale - 85,37 million Euros.
In comparison with the funds received in 2014, it decreased by $ 237.2 million (a year ago 12 agreements for $ 978.3 million were signed previously).
In the years 1994-2015 the government received a total of $10 billion 327.5 million for the implementation of projects and programs, out of which just over two-thirds ($ 7 billion 285.8 million) was disbursed. --17D-
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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