Twelve kilometers of the highway Baku-Shamakhi-Yevlakh (160-172 km), one of the main highways of Azerbaijan (M4), is again under repair. State JSC "Azeryolservis" the Ministry of Transport said today (http://azeryol.az/az/news/view/558/), that this route has not been repaired for years. Although, according to the same source (http://azeryol.az/az/content/396/) even reconstruction of this highway has not finished. Realization of this project began in May 2010, and was to be completed in May 2013.
For the reconstruction of the highway Yevlakh-Muganli (145 km) M4 the government borrowed from the French bank BNP Paribas. Contractor works (OOO "Azerinshaatservis") notes (http://goo.gl/OmJmvD), that under this project it used $259.8 million. In addition, the government is also funding from the state budget part of these works. The credit agreement was ratified in 2008 (http://e-qanun.az/framework/15588). 08B
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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