In January-March this year, the volume of industrial production in Azerbaijan amounted to 5 billion 792 million manat, which at current prices was by 29% (2 362 million AZN) less than in the first quarter of 2014.
According to the State Statistics Committee, the volume of industrial production for the period increased at stable prices by 3.9%. In other words, the statistical growth was achieved due to the increase in output.
In the non-oil sector, the volume of industrial production amounted to 1 billion 850,700,000, which in comparable prices was by 9% more than in January-March 2014. In March, the industrial production increased compared to February by 12.8%.
The mining industry accounts for 58.7% (over the same period in 2014 - 71.8%), and the processing industry - 30.9% (21%), etc. -----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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