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The Ministry of Labor and Social Protection of Population presented the activities of the ABAD legal entity of public right (support to family business in the ASAN system).
According to the head of the Ministry, Salim Muslimov, ABAD implements projects that form competitive family farms in support of small and medium-sized businesses.
"We are implementing a program of self-employment, and the organization will be an additional effective support mechanism for the creation of family farms by low-income families," said the Minister.
Recall, the innovation was introduced by order of the President "On additional measures in self-employment" on April 7, 2016. According to the document, AZN 6 million was allocated for these purposes. This is supposed to provide self-employment for some 1,400 families for which small family farms have been created. --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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