The State Statistics Committee published data on investments in Azerbaijan's economy. Last year, the investment in development was equal to 15 billion 957 million manats (minus 11.1% to the index the year before).
Local sources invested 8 billion 936.9 million manats (56%), while foreign investments amounted to 7 billion 20.1 million AZN. Just over a third (34.7%) was public investment - 5 billion 537 million, and other investment came from private owners - 10 billion 420 million AZN.
The main flow of funds came from enterprises - 10 billion 615.5 million (14.1%) and bank loans - 1 billion 299 million AZN, with growth doubled. Against this backdrop, budgetary investments decreased 46.1% to 3 billion 5 million AZN and extra-budgetary funds decreased 31.5% to 272.3 million AZN.
According to the results of 2014, the country's economy was invested 17 billion 615.8 million AZN. Domestic investments amounted to 12,735,400,000 AZN and external ones were 4,880,400,000 manats. --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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