Criterion of Need for Next Year - 105 Manats
The criterion of need for the next year is set at 105 manat, which is identical to the figure for this year.
A day earlier, the head of state adopted the Law "On the Need Criterion for 2016", according to which the maximum earnings were defined for the poor person providing a targeted social assistance.
Experts believe that it is impossible to unify the figure for the capital and the provinces, because of the difference in living standards. In addition, life in the regions should be made more attractive in order to prevent the outflow of the population from there. --17D-
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- Photo sessions
- 8 December 2015 18:01
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- Social
- 8 December 2015 18:14
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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