In August of this year, customs revenues to the state budget amounted to 117 million AZN, which is the worst figure since February this year.
According to the State Customs Committee, last month the amount of customs revenue dropped compared with July by 24.6 million AZN or 17.4%.
In just eight months of this year through the SCC has been transferred to the state budget 1 billion 23.9 million AZN, which is 2% more than in the same period in 2014.
The SCC does not comment on the reasons for reducing customs revenues. Despite the potential (many consumer goods are made at the Azerbaijani customs at reduced prices), experts suggest that the amount of customs revenue will not exceed the approved forecast - 1 billion 590 million manats. --08B
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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