In January, the turnover of the national payments system decreased in all respects.
According to the Central Bank of AR (CBA), the turnover of large-value payment system (AZIPS) in the starting month of the year was at the level of 7 billion 626 million manat (minus 0.3% as of 1 February of last year). Within its framework, there were held 21,000 operations (minus 16%) with an average size of each - 363.1 thousand manat (+ 18.7%), with a trend of increasing withdrawal from circulation.
Within the system of small payments (XOHKS) in January (2 million 331 thousand operations) in turnover there was 1 billion 41 million manat (minus 1.1%), with an average amount of each payment 446.6 manat (minus 4.2 %). --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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