The Ministry of Agriculture reported on the revealed theft of money due to the farmers of the Zardab region. The fact was revealed due to the complaint by the farmer Shahla Ismayilova, whom the Zardab branch of OJSC Capital Bank paid AZN 5,000 instead of the due 9,900 manat.
The Ministry noted that during the proceedings they revealed the theft of subsidies owed to 238 farmers in the amount of AZN 37,185.50. The understated funds were registered in the name of others.
Materials of the investigation were sent to the Prosecutor General's office for investigation.
In 2017, the government will allocate subsidies to the agricultural sector in the amount of 190,200,000 manat. --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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