Banks and Merchants Prepare for European Games
By November 1, Azerbaijan installed 2,556 ATMs (+ 5.5% YTD), according to the website of the Central Bank. Most of these, 1,447 (+ 5.9%) were installed in Baku, and the rest 1,109 (+ 5%) were installed in the regions.
POS terminals are massively installed in trade outlets on the eve of the European Games (+ 93.2% YTD). Now their total number is 64,297 across the country. Again, the primacy belongs to the capital - 43,767 POS terminals, but in the regions the increase is more - 4.7 times, accounting for 20,530 units. The vast majority of these devices, 62,876 or 97.8%, is dispersed in retail facilities. --17D-
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- Politics
- 27 November 2014 14:14
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- Question-answer
- 27 November 2014 15:18
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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