Agreement with WizzAir Entered into Force
Today signed an agreement on the resumption of regular flights Budapest-Baku-Budapest between the State Civil Aviation Administration and the Polish-Hungarian budget airline WizzAir.
As Turan reported a week ago, flights once a week will take place from 27 March 2016, the summer schedule will be tight - local tourists will be able to get into the European Union, 2 times a week.
The agreement was signed on a permanent basis is valid for one year, the contract as a whole is intended to start in April 2019. Earlier, from 18 May 2013 to 25 October 2014 WizzAir airline flying from Baku, the capital of Hungary, only in summer (only 143 flights twice a week).
Determined by the parties was the cost of tickets - from 39.99 euros one way. Tickets are already on sale, and flights will be performed by Airbus in the night from Wednesday to Thursday, in the summer as also from Sunday to Monday. --17D-
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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