On March 14, the Ministry of Finance will offer investors T-bills in the amount of AZN 25 million, which will be repaid in a year.
Earlier, T-bills with a total nominal value of AZN 15 million with a circulation period of 364 days were placed on February 3. State securities were sold at an average price of 84.64 manat.
In the two months of this year, the Finance Ministry raised 31 million 986 thousand AZN from placement of bonds. This is 40% less than last year. The secondary turnover of state T-bills (AZN 3 million) decreased by 70 million manat in comparison with January-February 2016.
This year, the Ministry of Finance intends to offer investors bonds totaling 700 million 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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