In the first half of 2014, bank deposits amounted to 6 billion 720.8 million manat, which is 64.5 million more than the record level in April.
According to the Central Bank of Azerbaijan, as of June 1, this segment was filled with 6 billion 643 million manat. Recall non-residents removed about 100 million manat from their accounts in local banks in May, which was reflected in the position. The reason was the excitement about the failure to return deposits to the customers of bankrupt Royal Bank and paralysis of the activities of the Bank of Azerbaijan.
By January 1 the deposit accounts of the population were 6,395.8 million manat, and by January 1 last year – 5,113.4 million manat. - 17D-
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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