The difficult economic situation has led to a new conference, in which the President took part.
At today's event on the second year of implementation of the State Program on Socio-economic Development of Regions in 2014-2018, Ilham Aliyev again blamed the global economic crisis, recalling the ten years of "oil prosperity." "There is a decline in the world economy due to circumstances beyond our control now. We did not separate ourselves from the world community, we integrated in it and conducted open market policies and liberal economic policies, so it affects us," he said.
However, the head of state did not disclose the reasons for which there has been done almost nothing for the real sector development, and the economy is still at three quarters dependent on hydrocarbon exports.
The conference was attended by Ministers of Finance, Taxes and Economy, the Chairman of the Central Bank, state and government officials, as well as entrepreneurs. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review