The cost of travel in the metro grew by 3.2%
In 2013, the revenues of the state JSC Baku Metro from passenger traffic amounted to 42.8 million manat, increasing by 4.8% compared with the previous year . However, it did not help him to reduce losses.
Contrary to the regulatory legal acts, Metro did not disclose financial statements. According to the State Statistics Committee, in 2013 the cost of maintaining the Baku Metro totaled 105 million 160.1 thousand manats. This 8.7 mln or 9% more than in 2012 .
Comparison of the data in passenger traffic ( 206.6 million) and expenditure for 2013 shows that last year the cost of travel in the Baku Metro grew from 49.2 gepiks ( 2012 ) to 50.8 gepiks at 20 gepiks fare. Meanwhile Metro does not provide information on the cost structure.
Metro losses partly covered by the state budget : in 2013 for the purpose envisaged to allocate 29.2 million manat.
Once in February this year on the basis of Baku Metro and JSC Azertunelmetrotikinti was created a single company, the new government decided to expel trade outlets from the subway passages, hallways and other areas. Besides, they removed outdoor advertising materials. Thus, Metro lost the revenue, the size of which previously had never been reported.
The last time the government revised the fare for travel on the subway in December 2011 ( 5 gepiks). Meanwhile the government does not address the issue of increasing the fare.
According to the State Statistics Committee, in 2013 the underground transported 206 672.9 thousand people (including beneficiaries), which is 5.6 % more than in 2012. In this case the board of Metro does not provide information about the structure of the passengers using the services of free subway. Passenger growth trend continued this year: in the three months the subway transported 4% more passengers than in January-March 2013. - 08B-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review