The retail prices for another 827 drugs and medicines have been approved. According to the report released by the Tariff Council of Azerbaijan, they approved pharmacy prices for 3,010 drugs, of which 1,151 were sold under the new rates, the price of drugs in 1110 will be valid from December 1, another 749 - from December 21.
According to official information, the prices of 50% of the products are reduced more than two fold, 26% - more than three times, thus cheapening by 96% drugs that are commercially available. Moreover, the Council has reduced by an average of 30% of the tariffs for the examination for the issue of the certificate accessories, non-oil products, which would reduce the costs of exporters more competitive in the global market.
Recal, a gradual transition to state regulation of drug prices was announced September 15 and touches more than 4.5 thousand of the most important drugs in high demand of consumers. When the correspondent of Turan from the same date, patients complain about the disappearance of drugs previously available to sell, especially those that are issued only on prescription. Domestic experts were right, predicting a return to the situation of Soviet times, when a number of medicines were sold from under the counter. --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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