The Cabinet of Ministers of Azerbaijan adopted a resolution "On additional measures to accelerate socio-economic development of the Binagadi and Garadagh districts of Baku."
The document provides for the demolition of 49 apartment buildings, home to 1,247 families in the Binagadi district and 166 private houses in the village Balajary and its municipality. In the Garadagh region 274 poor houses of reeds and wood, inhabited by 10,960 people, mostly in the settlements Lokbatan, Sahil, Gizildash, Alat and Puta, will be demolished.
The program of demolition of illegally constructed and poor housing, as well as the transfer of buildings from the exclusive infrastructure zone, is designed for 5 years. During this time, local executive authorities will draw up detailed plans for these areas, give permission for the design and construction of new housing and commercial buildings, as well as give part of the state land plots for permanent use or lease. --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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