In the first 11 months of this year 4,820 vehicles were delivered to Azerbaijan, which is 5.3 times less than in the comparable period of 2015. Experts point out that the situation in the car market clearly indicates the position of consumer demand and characterizes the economic crisis in the country.
According to the State Customs Committee, from the beginning of the year, 4,194 cars have been purchased abroad, 18,500 less than last year.
This year, the decrease in import of buses and minibuses (80) was tenfold, trucks (463) - fourfold, and special-purpose vehicles (83) - threefold.
Since January 2016 the excise rate for imported cars has been raised. The Ministry of Taxes has prepared and submitted a bill to Parliament, providing for an increase in excise taxes on expensive cars. It would be a kind of tax for the rich, according to the government. This step is planned to partially offset the decrease in revenues from car imports. ------08D
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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