From June 9 rules for regulating the price of medicines enter into force. This regards the state registration of medicines and control over them.
According to the Tariff (Price) Council, the instruction for the calculation of reference prices for medicines has also been approved. It is based on the wholesale and retail price of drugs from 10 European countries - France, Italy, Spain, Portugal, Turkey, Greece, Poland, Hungary, Bulgaria and Slovenia, that is, those countries where drugs are not cheap. Recall local wholesalers mainly import medicines and drugs from Ukraine, Russia, Belarus and India.
According to the price regulator, today local and foreign drug manufacturers and their authorized persons shall submit declarations to the Council based on the prescribed form for the goods. Based on their analysis and data on prices in these countries, the Tariff Council will place reasonable prices on its web resource.
According to experts, binding the prices to the European countries will further strengthen monopolistic tendencies in the market of medicines, clearing the market of small wholesalers importing drugs from Third World countries and the CIS. --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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