In 2013, the government of Azerbaijan Baku Metro will provide a grant to cover losses at the level of 29.2 million manat. This is by 6.4 million, or 28% more than this year. The reasons for increased subsidies were not disclosed.
In 2009-2011, the fare in Baku Metro has been increased from five to 20 gepiks. Without revealing the structure, the leadership of Metro argues that the cost of travel is about 50 gepiks, by 2.5 times more than the cost of travel in public transport.
It is noteworthy that despite the annual decline in passenger flights, the government practically does not reduce state subsidies to the CJSC "Azerbaijan Airlines" at a reduced price of tickets on the route Baku-Nakhchivan-Baku. Since 2007, passenger traffic on domestic routes reduced rapidly. In 2007, domestic airline benefited 680,000 passengers, in 2010 it dropped to 210,000 people; the years 2011-2012 are not exception. Many passengers prefer to travel to the blockaded Nakhchivan Autonomous Republic by land transport, through Iran. However, AZAL will receive in 2013 a grant of 10 million manat. This is enough to cover the losses AZAL to carry 500,000 passengers of the route. In 2011, the leadership of AZAL left without answer a written request for the cost structure of flights to Nakhchivan. According to the Tariff Board, the fare on this route is 90 manat. Passengers pay for the ticket 50 manat. Half of nominal losses are covered by subsidies from the state budget, the remaining 20 manats at the expense of the airline. 08B
Economics
-
The Supreme Eurasian Economic Council of the Eurasian Economic Union (EAEU) convened today, December 26, 2024, at a summit highlighting the evolving dynamics of regional cooperation and the complex interplay of geopolitical interests among EAEU member states. The meeting, held in Saint Petersburg, brought together the leaders of the EAEU countries to discuss a robust agenda that could shape the bloc's trajectory in 2025 and beyond.
-
The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
-
Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
-
Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
Leave a review