The State Committee for Property Affairs (SPC) of Azerbaijan has integrated 4 more forms of e - services in the portal of "electronic government", according to the portal site.
Among these services there are "Deadline for sale at auction of objects to be privatized as the unfinished construction", "Deadline for sale of shares through cash auctions of large and medium-sized state-owned enterprises transformed into joint-stock company ", "Applications for sale on cash auctions of small enterprises ( objects)," "Deadline for sale at cash auctions of unused non-residential areas at the disposal of local authorities as well as built on state funds and located in residential buildings."
The information indicates that these electronic services determine the procedure for registration of the auction participants and making a deposit of 10 % of the privatized property and pre-emptive right to participate in the auction. -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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