Within four months of this year, catering facilities in Azerbaijan gained 214.1 million manat. This is 21.3% higher than in the same period last year.
The share of the state in the nutrition sector is small - 4.7 million or 2.2%. According to the State Statistics Committee, 48.2% (AZN 105.7 million) turnover for the private sector accounts for legal entities. Individual entrepreneurs owned 51.8% of the market.
In Azerbaijan customers of cafes and restaurants are not given cash receipts or presented the bill. Therefore, the data of the State Statistics Committee of cafes and restaurants, whose number is constantly growing, cannot be accurate because they are based not on actual accounting figures, and statistical methodology. 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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