As of March 1, Azerbaijan had 2,622 ATMs. Of these, 1,477 (56.3%) are located in the capital, while the remaining 1,145 are in the regions, according to the Central Bank of Azerbaijan. ATMs are a means of lump-sum cash withdrawal, as most of their users are pensioners and public sector workers, who do not have the possibility of accumulation.
Number of pos-terminals installed at trade and services amounted to 77,041 units (+ 5.5% YTD). Most of them (50,387) are located in Baku, and other 26,654 - at the periphery. At the same time more substantial growth is observed in areas (+ 16%). 75,816 or 98.4% of all pos-terminals have been installed in retail facilities. --17D-
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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