In the first quarter of this year by the State Customs Committee transferred to the state budget of 732.8 million manat, which is 14.5% more than in the same period of 2013.
In June, customs payments for imports of goods amounting to 135.3 million manat were provided. This is 2 million manat more than in the previous three months. It is noteworthy that in the early months if the ratio of the two main types of customs revenue (customs duty and VAT) is one to three, then in June the volume of import duties (63.5 mln) almost approached the VAT (66 million manat).
In the first half of the year duties amounted to 184.4 mln and VAT - 513 million manat. The plan on customs duties was performed, despite the reduction in the volume of imports. - 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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