The state maintains a leading position in fixed investment: in the first eight months of the share of the state budget and the only state oil fund in the structure of investment was 50.5 % - State Statistics Committee told Turan .
Since the beginning the investment in the construction sector amounted to 10 378.8 million manat. This is 22.7 % more than in the same period last year. The share of private enterprises accounted for only 37 % of the investment. Domestic investment in the economy is 7760 million manat, which is 16.3 % more than last year. Domestic investment in the private sector accounts for only 21.5% of the investment.
From foreign sources came 2.6 bn AZN of investment. The bulk of these funds (971.3 million manat) accounted for the UK, the USA (308.4 million manat) , Norway (305 mln manat) , Japan (260 million manat) and Czech Republic ( 214.2 million manat) .
During the reporting period this year has been used by the Government of loans from the World Bank in the amount of 93.5 million manat , the Asian Development Bank - 36.8 million manat, the Islamic Development Bank - 7 770.6 thousand manats, and the Council of Europe - 2 153.1 thsd manats. - 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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