On April 1, in the whole of Azerbaijan POS terminals conducted non-cash payments in the amount of 172 million manats (+ 12% to the end of March last year).
According to the Ministry of Taxes with reference to the Advisor to the Minister on Audit and Operational Supervision Ilgar Ahmadov, starting from 2014 and to increase the number of POS terminals in the network of trade and services, banks have delivered 75,000 of these devices, so now there are 86,000 units (+ 4,300 YTD). Most of them are in the capital - 62.4%.
The most active on this indicator (except the capital) are the cities of Sumgait, Mingechevir, Shamkir, Shirvan and Lankaran. They are closely followed by the regions Absheron, Shamakhi, Ismayilli, Oguz, Gabala, Sheki, Goychay, Balakan, Gakh and Zagatala.
According to the Ministry, the working conditions of POS terminals were inspected on 30,287 sites in the country, especially in Baku and Mingachevir, in May. Faults were identified for 1,632 POS terminals.
The number of POS terminals is increased, in particular, to facilitate the service of tourists who will visit the country within the framework of the first European Games (12-28 June 2015). --17D-
Economics
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In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
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Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
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In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
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The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
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