The Accounting Chamber of Azerbaijan (ACA), on July 1 meeting discussed the level of budget funds allocated for the reconstruction of the metal bridge on the highway Saatly - Musala - Mezreli over the Araz River.
The Board also discussed the audit program expenditure of government funds allocated to local representations of Azeryolservis in Siyazan and Gusar. Also discussed were prediction and the use of budget funds allocated for the use of land owned by the state in the Oguz and Tartar districts.
The subject of the audit was costs of municipal services in the Ujar and Gakh districts, departments of the Ministry of Ecology and Natural Resources. For a number of shortcomings the evidence was sent to the Parliament.
Accounting Chamber of Azerbaijan, reporting to the parliament, has been in force since December 7, 2001, as the body that controls the flow of the budget of AR. Leading employees (members of the Board, which consists of a chairman, his deputy and seven auditors) are elected every 7 years.
Accounting Chamber of Azerbaijan is usually limited to general statements about the board meeting, without giving specific figures and data. According to Article 6.0.3 of the Law of Azerbaijan "On receiving information" ("Basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. - 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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