In connection with the reduction in the volume of international freight transport, mainly via the TRACECA transport corridor, performance of public transport companies has deteriorated.
According to the State Statistics Committee, the first five months of this year maritime transport carried 2,156,100 tons, 31% less than in the comparable period of 2015. The reduction is mainly due to the transition of the Kazakh oilmen to a new route for oil transportation through the territory of Russia.
An important role in reducing freight traffic was played by the write-off of 25 ships of the Azerbaijan Caspian Shipping Company, which had served over 35-45 years.
The country's railways transported 5.8 million tons of cargo, 23.5% less than in January-May 2015. ------08B
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review