The Accounting Chamber of Azerbaijan will hold a long-awaited analysis of the formation and use of funds from the National Fund for Entrepreneurship Support (NFES).
According to the website of the Chamber, the decision was taken at the Board meeting of 26 January. There will also be inspected the Nakhchivan State Technical College, factories, offices and organizations on the balance of the Executive Power of the Khatai district of Baku on the article "Housing and communal services".
The Accounting Chamber of Azerbaijan, accountable to the country's parliament, has been effective since December 7, 2001 as the authority controlling the flow of budgetary funds in AR.
Senior officials (members of the Board, which consists of the chairman, his deputy and seven auditors) are elected every 7 years.
This structure is usually limited to generalities about the Board meeting, without giving specific figures or data. According to Article 6.0.3 of the Law of AR "On receipt of information" ("Basic principles of information"), disclosure of budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. --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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