After three-fold increase of fares in October 2009, and the subsequent increases of fares to 0.20 manat in December 2011, the passenger flow fell so much that can not return to the previous level.
According to the State Statistics Committee (SSC), 195.6 million passengers used metro in 2012. This is by 7.1% more than in the previous year. However, compared to 2009, passenger flow in metro dropped by 10.5 million people, or 5.1%. It is noteworthy that, compared to 2005 (147 million people), the volume of passenger carriages in the metro grew by 40%. In contrast to the bus transport, card payment system is used in metro, what allows to register the number of passengers. But at the same time, it should be stressed that the passengers were shocked by the increase of fares on the subway. This is particularly noticeable in rush hours, when the wagons, are overcrowded. Therefore, experts doubt the rigidity of financial control in the underground, which, in their view, can be achieved by connecting the additional terminals to the fare system of control by the Ministry of Taxes. 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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