Azerbaijan Has 26,500 Legal Guest Workers
The number of legal labor migrants in Azerbaijan since the beginning of the year increased by 17.65%, amounting to 26.5 thousand. This is evident from the report of the State Social Protection Fund (SSPF) of deductions for compulsory social insurance.
According to the Fund, the majority of registered migrant workers (88.3%) are male. Total represented are 114 countries. The leaders are, as a rule, are the Turks (13,439 people), Georgians – 2,903 people, Russians – 1,578, Iranians - 957, Indians - 924, Chinese - 843, the British people - 539, the Pakistani people - 525, and the other behind.
Start of the process of attracting migrant workers to paying contributions for compulsory social insurance falls on 1 January 2006. --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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