According to the State Statistics Committee, despite the devaluation of the manat (33.5%) in March compared with February, there was a decline in prices for onions, cabbages, hay, beet, potatoes, peas and apples. The decline in prices was recorded in March also on live poultry, eggs and live sheep and goats. In the market real buyers face a different picture.
According to the State Statistics Committee, production of agricultural industry on average increased by 0.4% while reducing the cost of animal products (-0.7%). But in March milk, beef and lamb, as well as bee products increased in price.
Annuals and perennials grew respectively by 1.3% and 2.8%. Wheat, barley, cucumbers, tomatoes, chestnuts, hazelnuts, ground nuts and walnuts, pomegranates and flower seedlings rose in price.
Fish and fish products also became more expensive by 0.8%. --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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