In 2014 Azerbaijan is not expected to increase customs tariffs, the head of the State Customs Committee Aydin Aliyev told the media.
According to him, the growth of state budget revenues through the Customs Service will be provided not by raising tariffs, but due to the expected increase in the volume of imports, conducting cross-border trade in a civilian way with involvement of customs declarations.
For 10 months of the year instead of the projected 1.134 billion manat customs contributed 1.38 billion manat to thye state budget.
In 2014, the expected state revenue through customs will be at 1.51 billion manat.
It should be noted that the increase in customs duties inevitably leads to higher prices for imported goods. -06D -
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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