Azerbaijan Identifies Vulnerabilities in Security Systems of 857 State Information Resources in 2024

In 2024, Azerbaijan witnessed significant growth among rapidly expanding enterprises, particularly in the booming non-oil sector. As the government prioritizes economic diversification, companies in industries such as mining, logistics, agriculture, and manufacturing have emerged as key drivers of economic progress.

Azerbaijan’s State Oil Fund (SOFAZ) reported a 10.7% decline in revenues from the Azeri-Chirag-Gunashli (ACG) oil field block in 2024, amounting to $740.7 million less than the previous year. Total earnings from ACG from the start of 2024 until January 1 stood at $6.16 billion, down from $6.89 billion over the same period in 2023, according to SOFAZ.

The Azerbaijan Land Transport Agency (AYNA) has reduced the average age of taxis from 15 to 7 years in 2024 as part of comprehensive transport reforms aimed at enhancing safety, sustainability, and service quality.

The Azerbaijan Banks Association (ABA) announced that, in accordance with the recommendations of the Central Bank of Azerbaijan and in collaboration with the Azerbaijan Microfinance Association (AMFA), all outstanding credit obligations of the victims of the Azerbaijan Airlines (AZAL) flight Baku-Grozny, which crashed on December 25, 2024, have been fully written off by banks and non-bank credit organizations. This initiative was entirely funded by the respective financial institutions.