In 2016, the assets of the insurance company Khalg Sigorta increased by 4.1% or AZN 2,127,299 compared to 2015, making 54,139,202 manat.
During the reporting period, the company's capital grew by 13.5% or 5,333,528 manat and is 44,758,666 manat.
The liabilities of Khalg Sigorta for this period decreased by 25.5% or 3,206,229 manat and amounted to 9,380,536 manat.
The authorized capital of the insurance company in 2016 increased from 32,516,000 manat to 39,388,700 manat.
The company completed the year 2016 with a profit of 6,672,531 manat. ----71D
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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