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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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