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
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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