In 2016 International Transport Corridor Europe Caucasus Asia (TRACECA) transported 7.9 million tons transit cargo, which is 16.8% less than in the previous year, the State Statistics Committee.
From the transit the railway transport and the Shipping Company saved 189 million 177.4 thousand manat. This is 52% more than in 2015. Revenue growth is associated with the devaluation of the manat: transport companies perform transit of goods in hard currency and income is recorded in the accounting records in the local currency.
Azerbaijan is a member of the TRACECA transport corridor project, actively supported by the European Union. The corridor provides cargo owners more convenient tariffs for transportation. Reduction in the volume of traffic on this corridor is due to the weakening of trade relations of the countries located in this corridor in connection with the fall in global crude oil prices. -----08D
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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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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