The list of drugs and medicines the prices of which have been reduced by Tariff (Price) Council of Azerbaijan, to the previously approved 256, were added another 801 names (http://www.tariffcouncil.gov.az/documents/DVM .pdf).
According to the decision taken the day before during a regular meeting of the structure of the Ministry of Economy and Industry, regulated price for 46% of medicines and drugs have fallen by more than half, and more than 24% - by three times. In general, prices have fallen by 94% of all medicines with the prices to be settled.
According to the Council, the decline in prices for 15% of medicines with the state registration was confirmed. The patients in need of psychotropic drugs complained of a dramatic absence in public pharmacies the akinetona and fenazepama issued only on prescription. Domestic experts are predicting a return to a soviet situation where the number of medicines were sold illegally.
At the first stage of the Tariff Council has confirmed the price for 256 most popular and essential drugs. Based on the current decision of the list of drugs controlled by the government has grown to 1057.
The new prices will come into effect from September 15 this year. If the price for any medicine under the government control (there will be 4.5 thousand), will not be approved by that date, their implementation will not be impossible, which will cause the greater stir.
Finally, the meeting announced receiving documents (declaration) to confirm the drug prices on 55 active substances. The last date for receipt of documents (declarations) for the drugs to these active substances was scheduled for September 10. --17D—
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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