In September, the building materials market was relatively active. But in spite of this, during the month, prices for building materials remained unchanged. According to estimates, in September, the average price in the market compared to May fell by 1.2%.
In comparison with the last quarter decline in prices was 4.3%, and in comparison with the previous year, it was 6%. Relatively well with the same period of 2010, prices increased by 20%. During the month, the share of local production in the market for building materials was a little over 50.2%.
Experts believe that the activity in the market of building materials is associated with the season, and reconstruction work in the capital. They believe that the market activity will continue, and a strong rise in prices will not be observed.
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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