According to the State Statistics Committee, the biggest increase in public investment from January to July was recorded in the mining industry (30.1%) with absolute numbers 2 billion and 946.1 million manat. The most significant decline was observed in the processing industry (minus 56.9%) - the total amount of 210.7 million manat. In general, the infusion in the industry totaled 3 billion and 581.2 million (+6.9% since the beginning of the year), or 47% of total financial investments in Azerbaijan's economy.
Investment in the generation of electricity, gas and distribution totaled 140.9 million (+16.2%), in the water supply and recycling of waste - 283.5 million manat (minus 40.5%).
In the sphere of transport and warehousing in January-June invested 551.9 million (minus 50.8%), information and communications - 62.6 million (minus 12.3%), public administration, defense and compulsory social security - 554.3 million (+ 0.9%), education - 234.6 million (+ 7.1%).
In the sphere of housing construction in January-June 2014 were invested 457.6 million (minus 0.9%.) Other investments were made into other sectors of the economy. - 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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