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Economical news
Bulletine Economics 


2017 August 03 ( Thursday )  17:31:35
Print version
Русский Azərbaycan

Ordinance on Acceleration of Port Construction

Baku / 03.08.17 / Turan: President Ilham Aliyev issued an order on August 2 to speed up the construction of the Baku International Sea Commercial Port complex.

The Ministry of Economy, which oversees the construction of the port, has been allocated 30 million manat from the state budget of 2017.

The design of the new Baku International Sea Trade Port with an area of ​​400 hectares in the village of Alat, 75 km south of Baku, began in 2008.

The foundation laying ceremony was held on November 3, 2010.

On September 22, 2014, the first stage of a new ferry terminal complex with a handling capacity of 10 million tons of cargo and 50 thousand containers a year was started.

At the second stage, the capacity of the port's cargo port will reach 17 million tons of cargo and 150,000 containers, and at the end of the third stage - 25 million tons of cargo and 1 million containers. -0-

Balakan Hydroelectric Power Station Launched

Baku / 03.08.17 / Turan: The Balakan hydroelectric power station launching ceremony took place in the Balakan district with the participation of President Ilham Aliyev.

The station with a capacity of 25 megawatts will be capable of producing 10 million kW / h of electric power per year, which will allow satisfying 15% of the needs of the district and 25% of the needs of the Balakan district center.

Construction of small hydroelectric power stations started in 2009. During this time, 12 hydroelectric power stations with a total capacity of 150 megawatts were built. In the process of construction are another 5 stations with a capacity of 18 megawatts.

Hydroelectric power stations are built in Azerbaijan within the framework of the Sustainable Energy Support Program in Azerbaijan, supported by the European Union. -0-

Manufacturer of Milkmaid Cottage Cheese Made Comments in Connection with Marking of Goods

Baku / 03.08.17 / Turan: The State Service for Antimonopoly Policy and Consumer Protection of the Ministry of Economy revealed violations of the cottage cheese labeling under the brand Milkmaid.

The service notes that during inspections in the production department owned by the individual G. Gasymzadeh, it was revealed that the Milkmaid label contains conditions for the storage of the product, which leads to the growth of harmful microorganisms and a decrease in the quality of the product.

The entrepreneur was recommended to mark the goods in accordance with the law. -0-

Azad Javadov Relieved of His Post as Head of Deposit Insurance Fund

Baku / 03.08.17 / Turan: The head of state signed a decree on Tuesday appointing Vugar Abdullayev as deputy executive director of the Azerbaijan Deposit Insurance Fund (ADIF).

Abdullayev will also temporarily act as executive director of ADIF until the head of the Fund is appointed, the statement published on the website of Azerbaijani President Ilham Aliyev says.

It should be noted that Azad Javadov held this post since June 2007. It is reported that his term of office expired.

As noted earlier, the head of state in July 2017 approved amendments to the law on deposit insurance. According to the changes, the Fund's executive director and his deputies will be appointed not by the Board of Trustees, but by the relevant executive authority.

In addition, these amendments provide for a reduction in the number of representatives of MBNP in the Board of Trustees of ADIF - from two to one.

The Council will continue to include one representative of the Central Bank of Azerbaijan, three representatives of the relevant executive authority and two representatives of member banks of ADIF. -0---

Economic Well-being in Automotive Refraction

Baku / 03.08.17 / Turan: Statistics on the number, brand, value and novelty of cars purchased by the population can be an indicator of the standard of living in a particular country. Of course, we should not expect cardinal differences between different indicators. If in Norway motorists change their cars every 5-6 years after purchasing new ones in a salon, and a third of cars in the country go by electricity, it means that on all other indicators, Norwegians also live better than Azerbaijanis.

Vehicles that are driven only by electric traction are so few in Azerbaijan that it would be more correct to talk about their absence as a whole. What do you want, if in the whole country there are only two public devices for electric vehicle charging, and both are installed in Baku, near the modern Heydar Aliyev Architectural Complex?

What cars do the Azerbaijanis drive? This year, the rich began to travel in Mazerati, but there are so few of them that it is not necessary to talk about the mass popularity of Italian sports cars. Moreover, one cannot be deceived by surveying the capital"s avenues, since Baku is only half of Azerbaijan in terms of the number of inhabitants and motorists.

The statistical data for 2015 are known, when oil in the world market was sold at a high price and all auto dealers in Baku worked actively. In 2015, the most registered cars in Azerbaijan were VAZ (405,571 units), Mercedes (192,668), Hyundai (61,477), Toyota (46,777), Opel (42,641), Nissan (32,525), KIA (30,745), BMW (24,945), Mitsubishi (21,261), and Volkswagen (20,445). It might be not very prestigious, but the fact is that Zhiguli exceeded the other car brands in quantity, leading in the ranking.

If we do not focus on the brands of cars, as of January 1, 2016, the number of cars in Azerbaijan was 1,322,600. Thus, over the past 10 years, their number has increased 2.2 times or 710,500. 81.3% or 1,075,000 of them are passenger cars. For every 1,000 people, there are 119 cars in Azerbaijan (in 2005 - 25 cars).

In 2016, the sales figure in the Khazar-Lada company decreased by 41.3%. Probably, this year this company will increase sales, as completely new cars of Lada, the sedan Vesta and the city crossover X-Ray were brought to the Azerbaijani market.

Compare it with the data for other countries. Georgia looks more prestigious, because there the Mercedes prevails. But almost the entire Georgian car park is represented by old cars brought from Europe due to the low rate of taxation of imports that existed during the time of President Saakashvili.

According to the Ministry of Internal Affairs, in 2016 only 1.2 million cars were registered in Georgia, which is 8% more than in 2015. Of these, 161,797 Mercedes Benz cars were registered, which is 10% more than in 2015. On the second place is Opel. The number of registered cars of this brand is 126,170, which is 5% more than in 2015. The top three leaders are closed by Ford - 92,914 cars. Compared to 2015, the number of cars of this brand in the country increased by 4%.

Azerbaijan is traditionally compared with Armenia. In the neighboring South Caucasus country, the prevalence statistics for cars are not maintained or published in the media in Russian. It was possible to find data on the theft of various brands in Armenia in 2015. This statistics was headed by the cars of the Russian brand Lada. On the second place was Japanese Toyota, and on the third place was the Japanese brand Mazda.

In Russia, the most popular cars of 2016 were called Hyundai-Solaris local assembly. Then came the Russian Lada-Granta, then the Korean KIA-Rio, Lada-Vesta and Volkswagen-Polo. In the Russian list there is not a single cross-country vehicle.

The first three brands recorded a drop in demand across Russia from 9 thousand to 25 thousand pieces. The last two models were bought more by 52 thousand and 2 thousand pieces.

At the end of 2016, the Russian market for new passenger cars and light commercial vehicles declined by 11%.

In Moscow, the leadership belonged to Kia-Rio. The expensive Japanese Toyota-Camry sedan was only on the 4th place in Moscow.

Japanese Toyotas are not very lucky in Russia, though in the world they the first. For nine months of 2015 this company sold over 6 million 253 thousand cars. The German Volkswagen was far behind the leader; it managed to sell 4,786,738 cars. The American Ford sold 4,528,378 cars in the world.

Interesting are the indicators for Ukraine, which escaped from the Russian economic circle and rushed to Europe. The statistics for 2016 are known. Data on cars correspond to the political course of President Poroshenko. Just like in the whole world, in Ukraine Toyota dominates (7,668 cars, or + 56%). It is followed by the French Renault - 6,389 cars (+ 52%), the German Volkswagen - 5,001 cars (+ 117%), the Czech Skoda - 4,145 cars (+ 91%), KIA - 3,982 cars (+ 98%), Ford - 3,612 cars (+ 38%), Nissan - 3,444 (+ 29%), and Hyundai with 3,396 cars (+ 33%) bought in 2016, which is in the first place in Russia.

Ministry of Economics Urges Consumers to be Vigilant when Buying Household Appliances

Baku / 03.08.17 / Turan: The State Service for Antimonopoly Policy and Consumer Protection of the Ministry of Economy of Azerbaijan calls upon consumers to be vigilant when buying home appliances.

The Ministry reports that in particular, one should be vigilant when buying household appliances and equipment, communications equipment, cars, etc.

"When buying such equipment, consumers should demand from sellers a contract, a check and a warranty card, as well as a short annotation about the goods," it informs.

The report says that if these requirements are not met, consumers can apply at number 195-2 or through the ministry's website www.economy.gov.az, a page in the Facebook network and at the numbers 498-15-01 and 498-15 -04 and the website of the civil service www.consumer.gov.az. -0--

The European Union allocates 13.5 million euros for the production of fruits and vegetables in Lankaran

Baku/03.08.17/Turan: The European Union will allocate 13.5 million euros for the production of vegetables and fruits in the Lankaran region. The EU Delegation in Baku reports that the main focus of the support program for this sphere will be given to increasing the competitiveness of fruit and vegetable production.

The EU intends to work with the Azerbaijani government to create a system of regional and strategic planning, to improve the business environment and the investment climate in Lankaran. -16D-

The Central Bank announced the growth of foreign exchange reserves

Baku/03.08.17/Turan: The currency reserves of the Central Bank of Azerbaijan for July 31 of this year amounted to $5 billion 33.1 million dollars, the Central Bank of the country said. Over the past six months, the reserves of the Central Bank grew by more than 26% (from $ 3 billion 974 million). In July, the growth of foreign exchange reserves amounted to $ 69 million. In 2016, the Central Bank's foreign exchange reserves decreased by more than 20%. -02D-

Foreign currencies rates fixed by Central Bank

1 ABŞ dollarıUSD1.7008
1 AvroEUR2.0149
1 Avstraliya dollarıAUD1.3495
1 Argentina pesosuARS0.0968
1 Belarus rubluBYN0.8722
1 Braziliya rialıBRL0.5462
1 BƏƏ dirhəmiAED0.4631
1 Cənubi Afrika randıZAR0.1285
100 Cənubi Korea vonuKRW0.1509
1 Çexiya kronuCZK0.0772
100 Çili pesosuCLP0.2613
1 Çin yuanıCNY0.2528
1 Danimarka kronuDKK0.2709
1 Gürcü larisiGEL0.7084
1 Honq Konq dollarıHKD0.2176
1 Hindistan rupisiINR0.0267
1 İngilis funt sterlinqiGBP2.249
100 İndoneziya rupiasıIDR0.0128
100 İran rialıIRR0.0045
1 İsveç kronuSEK0.2097
1 İsveçrə frankıCHF1.7519
1 İsrail şekeliILS0.4754
1 Kanada dollarıCAD1.351
1 Küveyt dinarıKWD5.6383
1 Qazaxıstan tengəsiKZT0.0051
1 Qırğız somuKGS0.0246
100 Livan funtuLBP0.1128
1 Malayziya rinqqitiMYR0.3969
1 Meksika pesosuMXN0.0954
1 Moldova leyiMDL0.095
1 Misir funtuEGP0.0953
1 Norveç kronuNOK0.2152
100 Özbək somuUZS0.0415
1 Polşa zlotasıPLN0.4732
1 Rusiya rubluRUB0.0281
1 Sinqapur dollarıSGD1.2503
1 Səudiyyə Ərəbistanı rialıSAR0.4535
1 SDR (BVF-nun xüsusi borcalma hüquqları)SDR2.4025
1 Türk lirəsiTRY0.4811
1 Tayvan dollarıTWD0.0562
1 Tacik somonisiTJS0.1931
1 Yeni türkmən manatıTMT0.4865
1 Ukrayna qrivnasıUAH0.0656
100 Yapon yeniJPY1.5368
1 Yeni Zelandiya dollarıNZD1.2587
QızılXAU2159.3357
GümüşXAG28.1142
PlatinXPT1598.752
PalladiumXPD1530.72