In September, prices of construction materials rose by an average of 1.6%. This regarded channels, DSP, pipes, fittings, slate, glass, laminate flooring, and foam. Compared to the beginning of the year, prices rose by 7.5% and in comparison with the previous quarter by 6%. Experts estimate that in the last month due to the season has been an increase in demand by 5%. During the month, the share of local production in the market exceeded 52%.
Experts attribute the rise in prices of construction materials to seasonality. Entrepreneurs engaged in the building materials market explain the increase in prices of building materials, "September-October are months suitable for repair. In these months, increasing demand for repair and, therefore, prices of construction materials are soaring. "The seasonal activity in the market will continue, although major changes in the 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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