In 2016 CJSC Azerbaijani Railways transported 1 million 927 thousand passengers, which is 1.8% more than in the previous year. The growth was achieved by operating the line between the cities of Baku and Sumgait since September 2015.
According to the State Statistics Committee, in 2013-2014 the number of railway passengers was about 2.5 million. The number of railway users in Azerbaijan has been declining mainly after the elimination of suburban trains in Baku in 2010. In 2007, the railways served about 6.6 million passengers. In 2010, this figure fell to 4.8 million.
State Railway Company does not publish financial reports. Its management claims that passenger transport within the country is unprofitable. Tariffs for passenger transportation are regulated by the Tariff (Price) Council.
The State Railways recently noted the fact of transportation of 1 million passengers on the route Baku-Sumgait-Baku in September 2015. -----08D
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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