The maximum level for the sum awarded at the Azerbaijan Mortgage Fund social mortgages increased from 35,000 manat to 50,000 manat.
The corresponding decree to amend the "Rules of granting preferential mortgage loans", signed by the president of the country on Monday.
According to another innovation of access to social mortgage available for servicemen of the Azerbaijan Republic in the service for over three years (with the exception of regular military active duty), and released to the reserve and retired.
Social mortgage is funded by the state budget. For these purposes in 2013 will be directed AZN 40 million. Concession loans are for 30 years at a rate of 4% per annum. - 15B -
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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