Individual construction attracts people more than the purchase of apartments in new buildings.
According to a press release from the Public Association "The market property" in January-July, while apartment prices were down over the month by 1%, the average cost of building materials in Baku increased by 0.14%.
According to the monitoring results of the sampling, covering 87 types of building materials, more than half of which (54%) of local production, the largest increase was in slate - 27.1%, drywall (gypsum boards) - 16.8%, plywood - 2.3%, glass - 0.4%.
Fittings produced in Russia fell by 0.2%, metal coatings - 0.5%, nails - by 0.1%, facing stone - by 0.3%.
Prices of other goods were stable in July, the association said. -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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