Twelve kilometers of the highway Baku-Shamakhi-Yevlakh (160-172 km), one of the main highways of Azerbaijan (M4), is again under repair. State JSC "Azeryolservis" the Ministry of Transport said today (http://azeryol.az/az/news/view/558/), that this route has not been repaired for years. Although, according to the same source (http://azeryol.az/az/content/396/) even reconstruction of this highway has not finished. Realization of this project began in May 2010, and was to be completed in May 2013.
For the reconstruction of the highway Yevlakh-Muganli (145 km) M4 the government borrowed from the French bank BNP Paribas. Contractor works (OOO "Azerinshaatservis") notes (http://goo.gl/OmJmvD), that under this project it used $259.8 million. In addition, the government is also funding from the state budget part of these works. The credit agreement was ratified in 2008 (http://e-qanun.az/framework/15588). 08B
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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