This year, the state budget for the implementation of transport projects will be allocated investments totaling 367.3 million manats, said the NGO coalition member, NGO National Budget Group’s head Rovshan Agayev.
According to him, the construction of roads and bridges of Azeravtoyol will get directly 122.1 million manats. The reconstruction of the railway infrastructure of JSC Azerbaijan Railways has been allocated 175.2 million manats.
The Ministry of Transport for the continuation of construction of a new international sea port in Alat settlement will receive an additional 70 million manats. Agayev estimated that in 2008-2015 the Ministry of Transport has received from the state budget 548 million mantas for the project.
It should be noted that this year the investment projects from the state budget is planned to spend 3 bln. manats, or 16% of budget expenditures. One third of these funds are spent on financing the construction of the Southern Gas Corridor. The distribution of these funds for specific projects is by a special decree of the Cabinet of Ministers, which is hidden from the public. 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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