The volume of transit freight transport corridor TRACECA on the territory of Azerbaijan for two months this year amounted to 1,925,600 tons. This is 32.5% less than in the comparable period of 2013.
According to the State Statistics Committee, transportation decreased mainly by rail. Trains of Azerbaijan Railways (ARD) transported in January-February 696 800 tons of cargo , which is 48.2 % less than in the same period last year.
The head of the Department of Freight Transportation of ARD, Panah Karimov refused to comment on the reasons for the reduction in the transport corridor Silk Road.
Reduction in the income of the carriers was caused by a drop in the transportation volume. In the 2 months in 2014 the railroad and JSC Azerbaijan Shipping Company earned from the transit 20.3 million manat. The revenues fell at an annualized rate of 24.1 %. -08D-
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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