In January of this year compared with the same period last year, the total number of employees of the industrial sector fell by 7.8%, the State Statistics Committee told Turan.
In January 2015 industry engaged 188,000 people, but this year this figure fell to 173.4 thousand. In the mining industry downsizing was 2.3 thousand, in manufacturing -. 9.7 thousand, and in power, gas and steam production and distribution -3.8 thousand people.
According to the State Statistics Committee, within two months from the beginning of the year the volume of industrial production in the country amounted to 4.3 billion manats, 0.1% less than in the comparable period of 2015. In the non-oil sector, industrial production for the period increased by 4.5%. Decline was registered in the oil and gas sector (-0.7%).
The share of extractive industries (2.7 billion manats) in the entire industry was 61.7% in the reported period. -0--
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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