Client to Make Millionth Loan to Bank of Baku to Go on Cruise on Mediterranean
JSC Bank of Baku will present a gift to the customer, who applies a millionth credit account.
The customer who applies a millionth loan will be entitled with a person closest to him to make a cruise vacation in the Mediterranean. During the voyage the winner and his companion (male or female) will become familiar with the beauty of the Mediterranean in Turkey, Italy, Greece and other countries. All the cruise expenses will be paid by the bank. The cruise package includes meals, entertainment on board, and comfortable accommodation in a cabin with a window to the sea.
In addition, the winner and his companion will get health insurance for the cruise, airfare to Istanbul, which is the start point of the voyage, and back, as well as other benefits. - 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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