Transport in Baku will be on card system?
In the near future public transport in the capital will go to a single card cashless payment system, said the company "Baku Passenger Transport". Terminals for payment "BakıKart" have been installed on a number of subway stations. The cost of the card will be two manat. In late May, the six bus routes in Baku will be non-cash fare. Cashless payment system will be applied to 515 buses "Daewoo" on 29 routes in the center of Baku. Installing the equipment in buses for electronic payments. Today completed the installation of terminals in 10 bus route number 52, which are tested. By the end of May there will be a similar system on routes №1, 6, 14, 25, 52 and 95. Until the end, all public transport will use cashless payment system, the report said. Currently, there are more than 2,500 buses in the capital. It is difficult to say how realistic is the use of this system, given the conflicts of interest hosts routes and especially the interests of drivers. Currently, these people work 12-14 hours a day. The collected money they will share with the company or the owner of the route. Cashless payment means that they will get a good salary. However, the salary will be lower than the money of those drivers who work for wear. In this case, drivers must go on shift work, but they are unlikely to agree to reduce their fundamentals income. Therefore, we should expect the protests and other forms of discontent on the part of bus drivers.-02D-
Economics
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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.
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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.
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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.
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"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.
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