The State Committee for Standardization, Metrology and Patents (SCSMP) has prepared a proposal to change the legal status of its three units financed from the state budget. The talk is about transforming them into public entities on the basis of self-financing.
The Head of Press Service of the State SCSMP Fazil Talibov told Turan that the State Metrology Service (GPS), the State Accreditation Service (GSA) and the Azerbaijan Institute of Standardization and Certification can be converted to public entities. "Not only in Europe, but also a number of the CIS countries, this kind of state structures perform functions assigned to them by the entity and are not funded by the state." It isexpected that there will be reduction of personnel and the State Standard in the machine. The state budget for 2016 to finance petroleum products allocated 557,876 manat, the GSA- 286,508. 08B
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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