Composition of State Commission for Cooperation with IAEA Updated
Today's order of the President of Azerbaijan partly updated the State Commission for Cooperation with the International Agency for Atomic Energy (IAEA) six years later.
Late Mahmud Karimov was replaced on the list by the current President of the National Academy of Sciences Akif Alizadeh. Siyavush Azakov was replaced as chief of the State Agency for Regulation of Nuclear and Radiological Activity of MOE by his deputy Vugar Huseynov. The list also includes the Deputy Chief of the State Security Service Ismayil Baghirov, the Chairman of JSC National Center for Nuclear Research Adil Garibov, and the Deputy Minister of Justice Togrul Musayev.
In addition, the list includes the Minister of Ecology and Natural Resources Huseyn Baghirov, the Minister of Communications and High Technologies Ramin Guluzadeh, and the Education Minister Mikail Jabbarov. --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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