On January 13 the authorities shurply tightened restrictions on duty-free imported goods. Thus, on October 22, the head of state issued an order according to which the ceiling for duty-free goods was raised to $10,000. From now on, this amount is limited to $1,000. Corresponding changes have been made to the Decree No. 656 of 22 October 2015, said the press service of the head of state. Three months ago, when Decree 656 was issued, the government presented it as a struggle against monopolies and corruption, supporting small and medium-sized businesses.
The authorities do not explain this impulsive step and return to the previous situation. In practice, this means that individuals will be forbidden to bring any significant volumes of certain goods. At the same time, it creates opportunities for corruption in customs. -02D-
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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