On the 8th of December in Baku the Ambassador of the European Union Malena Mard and Economy Minister Shahin Mustafayev signed an agreement on the financing of the "Regional development program related to Azerbaijan." According to the press service of the Economy Ministry, the agreement was signed in the framework of the Program of activities for Azerbaijan in 2015, the European Neighborhood Instrument. Grant size - 14.5 million euros.
The agreement provides for technical and grant support to the system of informing and consulting business in the agricultural sector, improving the system of support for the development of small family farms and rural areas. The EU will support the Ministry of Economy in its work on consumer education, the promotion of local products, etc. 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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