Investment in oil and gas sector in 2012 amounted to 33 648 million manat and 23.8% was the proportion of it ahead of all other sectors of the economy in terms of investment.
According to the committee, public investment in the transport sector in 2012, including foreign loans amounted to 2 581 million manat (1.4%). The share of transport in the structure of investments was 16.9%.
Further, in the structure of investment comes housing with 9.1%, where in 2012 the government and the private sector (including the public) invested 1.395 bn (47.5%).
In the processing industry there was invested 706 million manat. This is 18% less than in 2011. - 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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