The state budget in 2016 does not add funds from privatization of state property.
As the Azerbaijani Minister of Finance Samir Sharifov told the media, serious replenishment associated with the May presidential decree on additional measures and new rules to improve industry is expected in January next year. "Now we fulfill all the requirements under the decree to start the application of the new system," said the official.
According to the decree of the President, the government should develop a new draft law "On privatization of state property" by August 1, according to which the State Committee for Property Affairs will report annually the list of objects offered for sale in the budget package.
In addition, the document has suspended all decisions on privatization in the second state program, on which the deals have not been signed. Now, a new list of objects owned by the state has to be prepared in three weeks. --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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