The plan for the implementation of the law on the State Budget for 2012 was exceeded, according to the government.
According to the deputies and reporters today in the Parliamentary Committee on Economic Policy, Finance Minister Samir Sharifov, budget execution has led to an actual surplus of 2.3 bn at the forecast 938 million, that is left untapped 1 billion 362 million manats.
Real economic growth in the last year was 2.2%, the average wage - 8.7% (396 manat per month), annual spending per capita - 3.8 manats. Azerbaijan's strategic currency reserves reached $ 46.5 billion (+14% yoy). - 17D-
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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