Today the Ministry of Finance carry out regular placement of state short-term and medium-term bonds. The amount of bonds offered to investors, which will be in circulation for 182, 364 and 728 days is only 25 million manat. Investors are also offered T-bills (364 days) and state medium-term bonds (728 days) - for $ 10 million each.
At first, the previous auction, profitability on manat bonds was 7.79% and 8.79%, dollar bonds - 2.77% and 3.5% depending on their maturity. The amount of bonds sold to investors is AZN 20 million and $12 million.
The Ministry of Finance issued bonds amounting 400 million AZN and $500 million, which it plans to place this year. Placing is done in stages and in small lots, once a week. The bonds were issued for the repayment of the expected state budget deficit. 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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