On May 17 the Baku Stock Exchange will hold two auctions for the sale of state short-term bonds for a total amount of 20 million AZN.
As Turan was told in BSE, bonds of 10 million AZN with a maturity of 364 and 182 days will be offered to investors.
Over the past three weeks, the Ministry of Finance has increased the intensity of auctions to almost once a week. The yield on the bonds is in the range of 11-13% per annum.
This year the government to cover the state budget deficit has issued government bonds worth 400 million AZN and 500 million US dollars. The Ministry of Finance still sells mainly AZN bonds. -----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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