The international assets of Azerbaijan, excluding the State Oil Fund of Azerbaijan, fell in December last year by $ 734.2 million, or 5.7%, to $ 12,243.41 million.
According to the Central Bank of Azerbaijan, in the structure of international assets in the reported period funds in various foreign currencies (primarily U.S. dollars and euros) decreased to $ 12,006.3 million and the cost of the basket of Special Drawing Rights (SDR), which paid for the country's share in the authorized capital of the International Monetary Fund, decreased by 6.5% to $ 236.91 million.
For the annual period the country's international assets increased by $ 1,079.7 million, or 9.7%. - 15V -
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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