President Ilham Aliyev signed on July 20 a decree, according to which the budget of the Highways Trust Fund will be managed by state-run Azeravtoyol.
In 2015, highways, bridges and road facilities were transferred to the balance of Azeravtoyol JSC. The joint stock company itself derived from the Ministry of Transport. The financing of road construction and maintenance was carried out from the state budget, not by the Ministry of Transport, but by Azeravtoyol. The latest decision of the President to amend the decree "On creation of the Highways Budgetary Trust Fund" complements this process.
In 2016 the budget of the Highways Budgetary Trust Fund was approved at the level of 261 million AZN. The funds are spent mainly on road maintenance.
In 2015 the Fund’s budget was executed at the level of 290 million AZN, and in 2014 - at 214 million AZN. -08D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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