According to preliminary data, CJSC Baku Metro earned 42 million 64.2 thousand manat from passenger traffic in 2014. This is 1.8% less than in the previous year.
The revenues decreased amid the passenger traffic rising by 4.3%. In 2014, the Metro handled a record number of passengers - 215.5 million people (+8.9 million).
As the State Statistics Committee told Turan, the cost of subway passenger transportation was 57 million 188 thousand manat more than the proceeds - 99.2 million manat. It is noteworthy that the State Joint-Stock Company was able to reduce costs in comparison with 2013 by 11 million 248 thousand manat.
Note that in 2014 the cost of transportation of passengers on the subway was 0.46 AZN, 0.07 AZN less than in 2013.
Part of the losses of the underground is covered by subsidies from the state budget. In 2014, it was envisaged to allocate 38 million manat for this purpose.
The fare in the Baku Metro is 0.20 AZN. ----08B
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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