The SOCAR report (http://www.socar.az/socar/az/home) for January-April has been published.
Its tax payments since the beginning of the year amounted to 444 million 975 thousand manats (minus 5.91% to May 1 of the previous year). In April, 119 million 845 thousand manats was transferred, which is even smaller (minus 9.55%) than last year's figure.
Slightly better are the contributions to the State Social Protection Fund - 45 million 108 thousand AZN was passed since January (minus 3.19%). In April the figure was 13 million 138 thousand manats (+ 10.33% to last year's April). --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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