At the expense of the State Service for Agricultural Projects and Credit Management (SSAPCM) at the Ministry of Agriculture farmers were provided financial resources for a total amount of 4 million 423 thousand manats in the five months of 2016, Turan was told in the department.
The loans were received by 41 producers of agricultural products in 21 regions of the country. The bulk of the loans (67.3%) were received for livestock. Loans through authorized credit organizations were also issued for poultry (13.9% of the funds), fisheries (6.3%) and vegetable production (3.5%).
In addition to these means SSAPCM granted loans totaling 2 million 341 thousand AZN to 10 entrepreneurs in the framework of international agricultural projects.
This year SSAPCM has been allocated 5 million AZN from the state budget for financing agricultural projects. Preferential loans for the development of the agricultural sector are also provided from the National Entrepreneurship Support Fund. ----- 08D
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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