According to the basic positions, the production of popular drinks is in recession. According to the State Statistics Committee, mostly suffered sparkling wines - 0.6 thousand deciliters (minus 77.8%) and other wine – 116.6 thousand deciliters or minus 32.8% in comparison with the figures as of 1 April last year.
Vodka production was 138.1 thousand deciliters or minus 4.1%, beer - 764.6 thousand deciliters (minus 1.3%), and soft drinks - 3 million 373.4 thousand deciliters (minus 7.6%).
The growth was only in the production of brandy (+ 56.9%) - up to 18.2 thousand deciliters and liquor (+ 90.5%) - 32.2 thousand deciliters.
Notable decline was in the sphere of popular tobacco products (generally minus 12.1%) - to 342.5 tons of fermented tobacco (minus 6%) and 458 million cigarettes (minus 15.1%).
According to experts, the trend is related to two factors - increase in the imports and underestimation of the finished product. --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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