Ilham Aliyev: Fight against illegal migration
On July 11, under the chairmanship of President Ilham Aliyev a meeting of the Cabinet of Ministers was held, dedicated to the socio-economic development for the six months of 2012.
For half a year' the GDP grew by 1.5 percent, while the non-oil sector grew by 11.3 percent. "This is the highest index in the world economy," the President said. Although as a result of lower oil production the total industrial production over the past six months declined by 3 per cent, the growth in non-oil industry was 8.3 percent. The macroeconomic situation is stable, inflation was only 2.2 percent, while the income increased by 14.2 percent. In agriculture, 10.4 percent increase was registered, said Aliyev.
As a result of regional development programs in the six months, 46,000 new jobs were created in the regions, including 37,000 permanent. Noting the importance of employment of citizens of Azerbaijan first of all, Aliyev stressed the importance of taking measures aimed at regulating the activities of migrants in the country and establishing order in this area.
"I am confident that before the end of the year, positive trends in the economy will grow even more," said Aliyev, and instructed to keep the inflation rate and the exchange rate of manat. He also said that Azerbaijan's strategic currency reserves are $ 44 billion, while the foreign state debt is 7 percent of the GDP.
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- Social
- 11 July 2012 20:05
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- Political Monitoring
- 12 July 2012 02:45
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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