Without improvement of the banking system, it is impossible to develop the real economy of the country, MP Vahid Ahmadov believes.
According to him, the way of recovery of the banking sector goes through solutions to the problem of overdue loans.
This problem sometimes leads to tragic consequences when citizens are unable to pay loans after two devaluations and commit suicide, he said in a conversation with Turan IA.
Ahmadov together with MP Ali Masimli submitted to various institutions a package of proposals on solving the problems of the banking sector and the economy, expecting that the authorities will take them into account when making specific decisions. -06D--
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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