The Cabinet has ordered the allocation of compensation for a total of 115,000 manat for damage to owners of uninsured six apartments on the street Suleiman Taghizadeh, 59 in Baku, as a result of the fire that happened on March 9. The apartment owners seven months after the incident received from AZN 5,000 to AZN 35,000 from the Executive Power of Baku City Yasamal District.
The disposal of the government was justified by the requests for aid received from the affected citizens in Yasamal District.
The money was allocated from the reserve fund of the state budget for 2012. The paper is justified by the rules on the use of the fund. The fourth paragraph of the rules states that the funds are allocated from the Reserve Fund for reasonable offers.
Since December 2011, in Azerbaijan, the law "On compulsory insurance" has been acting, according to which apartments are subject to compulsory insurance. Therefore, the current government's decision can be regarded as humane. --08D-
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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