At yesterday's conference on the results of the first year of the "State Program on socio-economic development of regions of Azerbaijan in 2014-2018" the Minister of Agriculture Heydar Asadov announced increase in fruit and vegetable exports to $ 291 million (+ 16.1% compared to the year 2013) and increase in imports to $ 25.2 million (minus 13.5%).
"Reduction of fruit import by 32.7% in physical terms and vegetables and melons import by 47.3% indicates increase in the role of domestic production to meet the needs of the domestic market," he said, noting the growth of livestock by 21%, meat production - by 46.4% and milk production - by 53%.
As part of efforts to provide direct assistance to the development of crops farmers in the country were provided financial assistance of 20.1 million manat for sowing wheat and rice, while AZN 51.8 million was spent on the purchase of fuel and motor oil for the treatment of cultivated areas and perennial plants, the minister said. --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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