Russia, Iran and Azerbaijan will take measures on the development of transport infrastructure measures, including the corridor "North-South". This, according to the draft declaration, which today is expected to be signed in Baku the leaders of the three countries.
"The parties intend to support efforts to integrate regional transport and communication opportunities, aimed at creating an economically profitable and environmentally friendly transport infrastructure. The parties intend to take effective steps for the development of transport and communication infrastructure in order to improve existing passenger transport capacity and goods along with international transport corridor "North-South," quotes the draft declaration agency "RIA Novosti".
It is also noted that Moscow, Tehran and Baku intend to continue to "contribute to the realization of new projects on the connection of railways in the development and improvement of the efficiency of the international transport corridor" North-South ".
Corridor "North-South" is intended to connect northern Europe to South-East Asia. The railways of Azerbaijan, Iran and Russia will be joined during the project. In the first step along the corridor "North-South" is planned annually to transport 5 million tons of cargo, and in the future - more than 10 million ton. -06D-
Economics
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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Azerbaijan’s Milli Majlis approved in the first reading on Monday the draft budget of the State Social Protection Fund (SFS) for 2025, projecting a deficit-free financial plan with revenues and expenditures balanced at 7.676 billion manats, a 10.45% increase from the previous year.
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