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AZAL launches flights from Ganja to two Russian cities
Baku/22.02.23/Turan: The "Azerbaijan Airlines" launches flights from Ganja to two Russian cities, Moscow and Saint Petersburg, AZAL said on Monday. Flights will be operated weekly, AZAL's press service said.
The first flight of the Airline from Ganja to Moscow will be launched on 17 March. The flights will be operated three times a week, on Mondays, Fridays and Saturdays. Since 19 March AZAL will commence operating flights on Baku-St. Petersburg-Ganja-St. Petersburg-Baku route with frequency once a week - on Sundays.
From June, the schedule of flights on both routes will be added by one frequency - on Wednesdays and Thursdays respectively, the Airline said. -08B-
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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