Capacity of Local Pharmacists Used Poorly
Total 60 items of drugs and medicines in Azerbaijan - local production.
Head of the inspection for quality control of drugs under the Center for Analytical Examination of MOH Parviz Azizbayov believes that this proportion (just over 0.01%) in the amount of drugs that have passed state registration and approved for use, does not reflect the capacity of local producers.
Total pharmacological arsenal of hospitals, clinics, pharmacies and other health care facilities has approximately 4,500 kinds of medicines and drugs, the use of which is recommended by the Ministry of Health of Azerbaijan. More than half of the range is made in the European Union, said the chief inspector of quality of medicines. - 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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