The Cabinet approved the new composition of the board of the Ministry of Finance of Azerbaijan. By tradition, the Board is headed by the Minister Samir Sharifov, except for him, there are the first deputy Ilgar Fatizadeh and two deputies: Azer Bayramov and Emin Huseynov. The advisory body includes the Minister of Finance of Nakhichevan Autonomous Republic Khalid Isgandarov, head of the office of the Finance Ministry, Namig Suleymanov.
Then come - Javanshir Yusifov, Head of Civil Service of financial supervision; Razim Valiyev, director of the agency for the management of public debt; Khalig Rahmanov, head of the legal department of the apparatus; Fazil Farajov, the head of the budget department of the apparatus; Khagani Rzayev, head of the department of social financing; Elman Piriyev, Director of the State treasury agency and Adil Akhmedov, head of the state supervision service for precious metals and stones. --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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