The SOCAR Vice President on Economic Issues Suleiman Gasimov told reporters JSC Azerenergy started to pay the SOCAR bills for the supplied natural gas.
Thus, according to him, the money in full was transferred for the deliveries in April and May of this year, which was promoted by the new payment mechanism approved by the Cabinet of Ministers of Azerbaijan on January 1. A special account was opened for the state monopoly, which accumulates money received from electricity users. Half of the funds repay the natural gas supplied by SOCAR.
The Vice President of the company noted the partner’s debt at 348 million AZN, a tenth of which was formed in January-March this year, and 314 million AZN is the debts of previous years. --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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