The deterioration of the country's economic performance affects transportation. Only during the first nine months of 2015 the revenues of the state CJSC Azerbaijani Railways decreased by 4.1%.
As Turan was told in the State Statistical Committee, in January-September the company’s revenues from freight and passenger traffic totaled 171.6 million manats, decreasing by 7.2 million manats.
However, the profit for the period amounted to 24.8 million manats, increasing 11.1 million AZN compared to the same period in 2014. The profitability was achieved due to the proceeds of freight traffic.
Note that in the first nine months of 2015, the railway passenger transportation (1.4 million people) decreased by 24.8% and freight transportation (12.9 million tons) decreased 19.6%. --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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