The parliament began discussing the package of laws included in the state budget in 2017.
For three days MPs will debate the bills "On State Budget for 2017"; "On the criteria needs for 2017"; "On the budget for 2017 of the State Social Protection Fund"; and “On estimates of the costs of the Parliament and the Accounting Chamber”.
The state budget revenues are projected at 16 billion 255 million, while expenses - at the level of 16 billion 900 million manat.
Parliament Speaker Ogtay Asadov said at the discussions that despite the problems, the economy of Azerbaijan has been able to maintain stability and for the next year real economic growth is projected.
According to the Speaker, the state budget has kept social orientation.
"The main priority is to increase revenues from the non-oil sector," he said.
The Minister of Finance Samir Sharifov, in turn, said the decision of the Tariff Council on raising prices increased the revenues and expenditures of the state budget by 300 million manat. -71D-
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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