Educational Program from CBA
Azerbaijan has started to operate a portal (www.bizimpullar.az) under the Central Bank of Azerbaijan. The information site is intended for a wide range of users.
Among the objectives there are social value of financial literacy, education of different target groups, formation of the subjects of the economy, skills to meet modern requirements and, as a result, improvement of well-being.
According to the report, the portal will serve to improve public knowledge in the use of financial instruments.
According to estimates of the Central Bank, it should ultimately help the people develop financial skills and build a culture of saving. --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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