Azerbaijani regions by July 1, registered 15,330 POS terminals installed at trade and services (an increase of 3.5 times in comparison with the beginning of the year). In Baku, the absolute figures are higher - 37,080 at a much lower growth - by 30%. Almost all of the equipment (50,960 or 97.2% of all POS terminals) is set to retail sites.
In the country, according to the Central Bank of Azerbaijan, as of 1 July there were 2,476 ATMs installed (+2.2%), of which 1,389 ATMs are in Baku, and 1,087 are in the regions.
The situation with the POS terminals in the country is grim. In spite of the continuous increase in their numbers, in almost any shop they do not work. The reason is that with their use trade operations become transparent and the "gray bookkeeping" loses its meaning. --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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