At the plenary session of the Parliament heard the report of the Government. Speaking with Prime Minister Artur Rasizade said that last year, living standards increased, macroeconomic stability maintained, and energy and food security was ensured.
The Prime Minister said the acceleration of the development of the oil sector (+9.7%), GDP growth of 2.2%.
According to him, last year there was invested in the economy 25.8 billion manat with a specific gravity of the oil sector to 71%. Revenues of the consolidated budget were 20.1 billion manat, and strategic currency reserves - $ 46 billion.
Inflation rate (1.1%) and the fact that the depositors of the former USSR Savings Bank paid to January 1, 2012 550 million manat - evidence of social orientation of the economy - said Rasi-zade. In addition, the average monthly salary rose by 8.7%, and the average level of all types of pensions is 152 manats.
Speaking of financial stability, he noted the growth of credit investments of 20.8%.
On all types of loans entrepreneurs for the year have been allocated 212 million manat of concession loans. - 17D-
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