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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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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