In the first nine months of this year, producer prices for manufactured goods in Azerbaijan grew by an average of 16.4%, with the greater role played by the oil: in comparison with the same period of 2015 the prices of goods of extractive industries jumped by 18%, the State Statistics Committee said.
In January-September 2016 prices rose by 10.8% for the processing industry products. In the sphere of production, distribution and supply of electricity, gas and steam the prices increased by 7%, water supply and waste treatment – by 4.2%.
In May this year the decision of the Tariff Council raised the tariffs for the use of water and provision of sanitation services, and in July the tariff was raised for the use of electric power.
On a monthly interval (September to August) producer prices in metallurgy industry increased by 9.7%, production of construction materials - 1.9%, oil products - 3.3%, cigarettes - 2.7%, food - 0.5% clothing - 0.4%, and drinks - 0.8%. -----08D
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