The Cabinet of Ministers approved the rules regulating drug prices. According to the normative act, the prices of medicines that are registered in the Ministry of Health will be governed by the Tariff (Price) Council of the Government.
The regulation will be based on the reference prices which are established on the basis of producer prices.
Wholesale pharmaceutical enterprises and pharmacy organizations will determine the level of extra value as a percentage.
Price regulation or amendment will be considered by the Tariff Council on a quarterly basis.
When changing the national currency by more than five percent and for more than two months, the prices of medicines will be reviewed on a priority basis.
Wholesale and retail prices of drugs will be determined in the following order:
Drug prices from producers | Extra value from wholesale pharmaceutical enterprises | Extra value from pharmacy organizations |
Up to AZN 5 (inclusive) | 20% | 20 % |
AZN 5-20 (inclusive) | AZN 1 + 17% of value exceeding AZN 5 | 20% |
AZN 20-50 (inclusive) | AZN 3.55 + 13% of value exceeding AZN 20 | 20% |
AZN 50-100 (inclusive) | AZN 7.45 + 7% of value exceeding AZN 50 | AZN 11.49 + 13% of value exceeding AZN 57.45) |
Over AZN 100 | AZN 10.95 + 3% of value exceeding AZN 100 | AZN 18.45 + 11% of value exceeding AZN 110.95) |
Economics
-
Azerbaijan's government has allocated a total of 4.83 billion manat ($2.8 billion) from the state budget in 2024 for the reconstruction and restoration of territories liberated from occupation, the Ministry of Finance announced.
-
President Ilham Aliyev of Azerbaijan convened a meeting on January 28 to discuss the development of the country's transportation infrastructure, focusing on the challenges facing the capital city Baku and its surrounding areas. Despite significant advancements in infrastructure over the past years, Aliyev acknowledged that traffic congestion remains a growing issue due to the rapid increase in the city’s population.
-
Azerbaijan concluded 2024 with state budget revenues of 37.16 billion manats, exceeding forecasts by 2.1% and reflecting a 5.5% increase compared to 2023. Budget expenditures amounted to 37.72 billion manats, resulting in a manageable deficit of 555.5 million manats. Despite the deficit, the government demonstrated fiscal resilience and strategic allocation of resources, supported by higher-than-expected non-oil revenues and prudent expenditure control.
-
According to data released by the Ministry of Finance on Monday, Azerbaijan’s external public debt as of January 1, 2025, stood at $5.16 billion, accounting for 6.9% of the country’s GDP for 2024.
Leave a review