Azerbaijan International Reserves increased over the year by almost a third
International assets excluding Azerbaijan State Oil Fund of Azerbaijan widened in February this year to $ 1,665.8 million, or 11.1 %, to $ 16,691.4 million
According to the Central Bank of Azerbaijan , in the structure of international assets in the reporting month increased funds in various foreign currencies (mainly U.S. dollars and euros ) to $ 16,452.12 million cost of the basket of Special Drawing Rights (SDR), which paid the country's share in the authorized capital of the International Monetary Fund , increased by 0.5 % to $ 239.1 million
For the annual period of the country's international assets increased $ 3,958.7 million, or 31.1%. – 15B-
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- Economics
- 2 May 2014 13:22
Economics
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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.
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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.
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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.
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Azerbaijan's State Special Communication and Information Security Service (SSCISS) has reported vulnerabilities in the security systems of 857 information resources across state institutions in 2024, marking a 23% increase compared to 2023, according to official data released this week.
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