This year, the state budget for the implementation of transport projects will be allocated investments totaling 367.3 million manats, said the NGO coalition member, NGO National Budget Group’s head Rovshan Agayev.
According to him, the construction of roads and bridges of Azeravtoyol will get directly 122.1 million manats. The reconstruction of the railway infrastructure of JSC Azerbaijan Railways has been allocated 175.2 million manats.
The Ministry of Transport for the continuation of construction of a new international sea port in Alat settlement will receive an additional 70 million manats. Agayev estimated that in 2008-2015 the Ministry of Transport has received from the state budget 548 million mantas for the project.
It should be noted that this year the investment projects from the state budget is planned to spend 3 bln. manats, or 16% of budget expenditures. One third of these funds are spent on financing the construction of the Southern Gas Corridor. The distribution of these funds for specific projects is by a special decree of the Cabinet of Ministers, which is hidden from the public. 08D
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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