The next meeting of the Chamber of Accounts
In comparison to previous years meetings of the Accounting Chamber of Azerbaijan (ACA) have become more frequent. At the meeting of April 9 (the day before there was another one) they discussed and approved the results of the audit of government spending of funds allocated to the Executive Power of the Bilyasuvar and Sabirabad regions, as well as at the State Agrarian University.
Also conducted was the audit of financial activity in the lyceum named after Heydar Aliyev of the Ministry of Education, the National Library named after MF Akhundov, and the film studios Yaddash. Due to financial irregularities varying materials on the results of these checks will be sent to the Parliament.
In addition, the Chamber will verify compliance with the legislation of the use of executive bodies of the Tartar and Oguz districts of state land, and the use of forecasting revenues and expenses in the Agdash district branch of the State Social Protection Fund. The plans of the main fiscal organization is listed as verification of forecasting and targeted use of budgetary funds allocated to the Hajigabul management of the irrigation systems "Irrigation and Water Management" and the Pirsaat management of the operating systems of water supply winter pastures.
Accounting Chamber of Azerbaijan, reporting to the parliament, has been in force since December 7, 2001, as the body that controls the budget flows of the AR.
Leading employees (members of the Board, which consists of a chairman, his deputy and seven auditors) are elected every 7 years.
Accounting Chamber of Azerbaijan is usually limited to general statements about the board meeting, without giving specific figures and data. According to Article 6.0.3 of the Law of Azerbaijan "On receiving information" ("Basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. - 17D-
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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