Azerbaijan’s foreign investments significantly increased thanks to gas projects
According to the report of the Azerbaijan State Statistical Committee, in January and February 2016 1,392,000,000 AZN has been invested into the oil and gas industry of the country, up 55.7% against the same period last year.
The Committee reported that during this period the amount of foreign investments into Azerbaijan’s main capital totaled 1,241,100,000 AZN, up 53% against the same period last year.
At present the main foreign investments implemented in Azerbaijan are directed to the upstream projects, including Shah Stream and Southern Gas Corridor (construction of the gas pipeline in Azerbaijan is in progress, the Sangachal gas terminal is expanded and etc.)—0—
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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