CBA creates a portal for research and financial literacy
The Central Bank of Azerbaijan announces tender for the creation of this department in the knowledge management system , portal research and financial literacy , as well as studios for creating multimedia tutorials character.
The fee for participation in the tender procedure for each of the lots is AZN 300. Applications for participation in the tender will be accepted until November 12 of this year in the administrative office of the bank ( R. Behbudov Street , 32) . Envelopes with offers will be opened at 15 a.m. the next day.
For more information, contact Rovshan Babashov on the phone number 493-11-22 (ext. 398). - 15D-
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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