On 1 august the Cabinet of Ministers adopted decree №286 on the creation of Khizi-Khachmas, Guba Gusar tourism, and recreation zones. Document (http://goo.gl/KPxvK9)was published in the press today, on 11 August. The Government has identified the limits of these zones. The area of Khizi-Khachmaz tourist recreational zones (TRZ) will total 33 832 hectares, Guba TRZ - 3728.4 hectares, Gusar TRZ - 14546.5 hectares. The limits of the specified TRZ have been determined with consideration of the proposals of the Ministry of Ecology and Natural Resources. 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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