The cost of transportation per passenger on the Baku underground in the first quarter of 2013 was 65.9 gepik (100 gepik = 1 manat). In 2012, the overall transport of one passenger totaled 49.2 gepiks, and fare is 20 gepik.
According to the State Statistics Committee(SSC), in January-March 2013 Baku Metro has spent 33.1 million manat on the organization of passenger transport, by 41.5% more than over the same period last year. The reasons for such a sharp rise in costs with an increase in revenues of 6.2% were not disclosed.
Over the first three months of this year the metro carried more than 50 million passengers (including beneficiaries.) This is by 5.5% more than in the comparable period of 2012. Revenues of the subway on the Transport totaled 10.4 million manat.
Last time the subway fare in December 2011 increased, and was equal to the minimum fare on the bus. --08В—
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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