In 2013, the Azerbaijani government forecasts economic growth of 5.3%. GDP is expected to reach 56.1 bn. The Ministry of Finance announced the projected socio-economic development of the country in 2013.
The government estimated that the share of non-oil sector, with a growth rate of 11.7% in 2013 with GDP reaching 61.3% (34.4 bn). The production of oil GDP will shrink it to 2.9%.
Income in 2013 to grow by 9.1% and reached 39.7 billion manat or 4,270 AZN per capita, or 1,425 manat more than in 2011. Suffice it to say that the figure will exceed income in 2011 by 14 bn. The main part of these funds is to be ranked as the growth state of representation in the government of oligarchs, according to local experts.
Real wage growth to inflation (forecast - 5.7%) was 3.9%. The government forecast of the average monthly salary at the end of 2013 is 440.3 manat. - 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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