
AZAL Introduced Discount on Tickets for Eight Directions
The state airline CJSC Azerbaijan Airlines (AZAL) announced Winter Action at popular tourist destinations today.
According to AZAL, when buying economy class round-trip tickets in the period until 28 February the following areas when flying to / from Baku will be applied a discount of up to 20% - London, Milan, Berlin, Paris, Prague, Tel Aviv, Dubai and New York. The period of departures is 16 January-15 March 2017. ----08D
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- Actual report
- 16 January 2017 15:02
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- Economics
- 16 January 2017 16:13
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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