Another "E" Transaction Tax Ministry
The winner of the tender for the supply of network hardware and operating systems for the Ministry of Taxes of Azerbaijan was the Limited Liability Company CyberNet.
According to the agreement, the company will supply network equipment and operating system for the server room of the Ministry in the maintenance of its database and the electronic archive. The contract value is 1 million 326 thousand 631.52 manat.
The Ministry of Taxes - record on virtual innovation in government organizations. Besides the mentioned partner in 2011 - 13 years (http://tender.gov.az/new/?inc=reestr) it worked productively with Azercell Telecom, Bakcell, Vneshexpertservice, Caspel and other private entities. The leader on the amount of transactions is Caspel. - 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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