During 6 months, 2012 investments in the capital construction in Azerbaijan totaled 5.89 billion AZN. This is up 29.6% against the same period in 2011.
A source from the State Statistical Committee told Turan that the main part of capital was invested into the non-oil sector - 4.23 billion AZN. This is up 30.2% against the same period in 2011.
4.6 billion AZN (+38.8%) of capital invested into the construction sector falls to the local sources. Houses with total area of about 800,000 sq.m., schools accommodating 360 students, kindergartens accommodating 280 children, hospital with 15 beds and etc. were put into operartion.-0-
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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