In July, in Baku and other Azerbaijani cities, food prices did not change. In comparison to the same period last year, prices on average rose by 1.8%, in comparison to the beginning of the year prices fell by 2.5%. Over the last month in connection with the season, prices for agricultural products decreased only 5%.
Experts believe that the agricultural products in comparison with last year were sold more expensive. One of the farmers, noting that the yield this year was no worse than last year, said: "This year's crop is good, but prices of delivering products to markets increased slightly, which makes it impossible to sell the crop at a lower price."
In the next few days, the prices will remain stable.
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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