The Minister of Finance of Azerbaijan Samir Sharifov, responding to the debate on the draft budget for 2013 to the MPs, said that most of their grievances related to social issues, landscaping, regional infrastructure, and so on.
According to him, on transfers to the budget from the State Oil Fund, Customs and other revenues it is expected wholly-performance expectations for earnings. The only risky area is income from the Ministry of Taxes due to foreign oil consortium members. He noted that the structure of expenditures (budget-recognized investment areas) justifies the bookmark to the budget of the base price per barrel of $ 100.
He said that over the past nine years (from 2004), public sector wages have increased by 11 times, and pensions, social benefits and cost of living - 10 times. This year, repaired and renovated were 450 schools and 109 kindergartens. Ongoing repair work is conducted in 299 schools and 48 kindergartens. - 17D -
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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