During quarter 1, 2013 1078.9 million AZN was invested into Azerbaijan’s oil industry, up 39.9% against January-March 2012, reads the monthly report of the Azerbaijan State Statistical Committee.
During this period share of the oil industry in investments constituted 37.2%.
The Statistical Committee reported that in March 2013 direct investments into the Azerbaijan oil industry constituted 30.8% of all investments.
During 2012 23.8% of all investments fell into the oil industry, in 2011 – 23.2%, in 2010 – 30.3%, in 2009 – 27% and in 2008 -30.9%.—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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