Court of Auditors (SP) released a summary report on the audit of the Department of Housing and Communal Services (HCSD) of Baku City Executive Power. The report summarized the shortcomings identified are decision adopted in this regard. The audit covered the activities of the HCSD and its 29 units in 2015. The report, as in other previous audit reports, does not contain any figure on the financial variances and disadvantages.
"A number of shortcomings have been eliminated during the audit inspection. The remaining shortcomings must be eliminated as soon as possible, the guilty officials should be brought to justice," the report said. Those costs that were unreasonably high in 2015, will be cut in the budget of the HCSD Executive Power in Baku 2016.- 08D-
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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