The reduction of the construction sector amounted to 25-30% this year, this sector is experiencing a setback, said today President Ilham Aliyev. Communicating with residents of the new houses in the village Ramana, he said that in the capital there are a lot of old and dilapidated buildings that need to be demolished, and in their place will be erected new ones. This will have a positive impact on the recovery of the construction sector and building materials, and new jobs will be created.
"We invite all firms, businessmen participate in such projects. In just a few years in our country should not remain a single emergency buildings," he said, noting that the priority is social housing, and soon will be built 49 such houses. "This is a pilot project, and it has a great future," Aliyev said. -02D-
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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