According to the published (http://www.audit.gov.az/uploads/Hesabat_illik_2015.pdf) report of the Chamber of Auditors of Azerbaijan, last year the number of contracts decreased over the year from 3,487 to 3,094 (by 11.3% or by 393 units), while the total orders rose in price from 46.7 million to 49.11 million manat (+ 5.2%).
Thus, of the 64,958 subjects, subject to mandatory audit (61,485 LLC, 1,742 JSC, 1,607 municipalities, 43 banks, 54 political parties, and 27 insurance companies), only 2.7% underwent audit last year, which was 0, 2% lower than a year earlier. --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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