The National Fund for Entrepreneurship Support (NFES ) under the Ministry of Economic Development funded over three quarters of 2013 3,527 projects for a total amount of 245.2 million manat. This is quantified by 72.7 %, and in total - 44.3 % more than in 2012.
As stated in the Fund for the reporting period to finance 57 large projects were allocated 200.7 million or 81.9 % of total assets. On 3,452 small projects 41.9 million manat was allocated and on 18 average projects 2.62 million manat was allocated. The result has been to create more than 10.16 million new jobs.
The projects were mainly implemented in the production and processing of agriculture and industry. -15D -
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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