Assets of Mortgage Fund Increased by 8.1%
Azerbaijan Mortgage Fund's assets in 2016 increased by 52 million 66 thousand manat, or 8.1%, to 693 million 125 thousand manat.
The Fund’s bank deposits are 39 million 171 thousand manat.
In 2016 the Fund gave mortgage loans totaling 537 million 273 thousand manat.
The Fund's liabilities decreased by 1.74%, or 6 million 99 thousand manat in the reported period, amounting to 343 million 881 thousand manat.
The securities issued in 2016 made up 337 million 557 thousand manat.
The Fund’s capital for the reported period increased by 19.98%, or 58 million 165 thousand manat and reached 349 million 244 thousand manat.
In 2016 AMF showed a profit of 8 million 220 thousand manat. -------------71D
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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