The Parliament of Azerbaijan is interested in increasing the maximum coverage trims deposits.
Now considered is the question of the maximum size of private bank deposits subject to full coverage, up to 50 thousand manats, reporters and members of the Caspian European Business Club (CEIBC) were told by the chairman of the Parliament committee on economic policy Ziyad Samadzadeh. Currently insured in Azerbaijan are deposits amounting to 30 thousand manat at a rate not exceeding 10% per annum.
According to the MP, up to 2009 the limit for deposit insurance was 6,000 AZN, then in order to attract deposits it was increased by 5 times. - 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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