In June, Azerbaijan received 340 vehicles, 151 less than in May.
According to the State Customs Committee, in January-June 2,573 cars were purchased abroad, 15,067 or 6.8 times less than in the comparable period of 2015.
Since the beginning of the year, 2,222 passenger cars, 39 buses, 252 trucks and 60 units of special equipment have been delivered.
The automobile market in Azerbaijan is experiencing a serious crisis. In connection with reduction in the volume of imports difficulties appeared in many automotive companies, representatives of foreign cars. The situation is complicated also because of the problems in the banking sector, which due to the financial crisis virtually stopped lending to car sales. -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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