As of 1 November 2016, the public external debt of Azerbaijan amounted to 7 billion 650.7 million manat. This is $ 920 million more than a year earlier.
The Ministry of Finance opened the amount of public debt in absolute terms, without any other indicators. This is contrary to the law. According to the law "On State Duty", the Government quarterly reports to the public about all the parameters of public debt, including the principal sum and the accrued interest, foreign currency debt structure, borrowers about debt repayment, etc.
It notes that in 2016 it was supposed to pay the government debt of about AZN 1 billion 120 million, which was 7.7% of the state budget. However, only public external debt in the third quarter of this year increased by $ 12.1 million.
On October 1, 2016 the ratio of total external public debt to GDP was 20.1%. ----08D
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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