The cost estimate of the Accounting Chamber of Azerbaijan for 2016 as a whole was 3 million 781.889 thousand manat.
Wages of the Chamber’s staff amounted to 1 million 975. 671 thousand manat and the wages of freelancers were 43 thousand 470 manat.
Other payments for services made 582,435 manat.
Payments to the Social Protection Fund amounted to 572,347 manat.
In 2016, the Accounting Chamber spent on business trips 184,500 manat, of which travel within the country was spent AZN 117,000, and trips abroad were spent 67,500 manat.
The supply of gas, electricity and water cost the Chamber 24,900 manat.
In general, the Accounting Chamber realized its estimated costs at 87.9%. ----71D
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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