. In January-April 2016 the volume of industrial production in Azerbaijan totaled 9.4 billion AZN, which in comparable prices was by 1.1% less than in the comparable period of 2015, the State Statistics Committee told Turan.
At current prices, industrial production actually increased (+0.9 billion AZN). This was due to the rise in price of some industrial products as a result of the devaluation of the national currency in February 2015.
This year, oil production fell by 1.8%, natural gas production – by 9.8%, electricity production – by 7.6%, as well as some other goods processed.
For the four months the following production indexes increased: food products (+ 2.3%), beverages (+ 8.2%), cigarettes (+ 52.1%), electrical equipment (+ 7.8%), finished metal products (+ 36.5%), textile industry (3.5 times), etc.
The volume of production in the non-oil industry in general grew by 4.2%. -----08D
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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