In 2017-19 it is expected to invest in the basic direction of the economy 12 billion 688 million 141 thousand manats. According to the government, in a relatively short term, more than half (6 billion 997 million AZN) will be spent from the state budget, foreign loans of 2 billion 654 million will be received and 3 billion 37 million 141 thousand mantas will be spent from the State Oil Fund.
Once again is declared the highest priority of infrastructure projects, which are planned to spend 10 billion 799 million 61 thousand manats, including more than half of it - 5.64 billion at the expense of budget expenditures.
In the segment of social security will be invested, according to preliminary calculations, 1 billion 244,900,000 and in the defense and security services - 3 billion 262,360,000 manats.
The investment program of 2017 is presumably estimated at 4 billion 521 million 885 thousand, in 2018 - 4 billion 824 960 000, in 2019 - 3 billion 341.3 million manats. --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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