The head of state has allocated AZN 17 million for the construction of roads in three districts
President Ilham Aliyev has allocated almost 17 million manat from a reserve fund for infrastructure projects in three regions of the country. Thus, construction of the road Zagatala Danachy-Asagi Chardakhlar, connecting 12 settlements, received 5.5 million and building the road Yardimli-Deman-Arva, connecting 23 settlements, received 5 million manat.
For construction of the Gazakh-Gushchu Ayrim road connecting 15 settlements, 6.9 million manat was allocated. The Ministry of Finance was instructed to ensure this funding. -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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