Entrepreneurs Demand Money from Head of City of Sumgait and from Administration of President
Baku / 29.01.18 / Turan: Today, a group of entrepreneurs from Sumgait, who took part in the construction of a new seaside boulevard in this city in 2016-2017, once again visited the Administration of the President of Azerbaijan (AP) demanding payment of their debt. Here they were once again reassured that the debts will be paid.
Entrepreneurs demand debts from the head of the Sumgait Executive Power. They voiced these requirements at the reception of representatives of AP of Azerbaijan. On January 31, entrepreneurs will be received by one of the presidential aides. However, entrepreneurs say they no longer trust these promises.
The press service of the Sumgait City Executive Power told Turan that neither the head of the city"s EP Zakir Farajov, nor any other official representative of the EP is liable for the claimed debts. "EP of the city of Sumgait is not a party to contracts or other agreements with persons who now demand debts from it. The person responsible for these debts was arrested on charges of misappropriation of funds," said Eyvaz Gojayev, spokesman for the EP of the city of Sumgait.
Entrepreneurs claim that they should be paid back 12 million manat, according to the project of building the seaside boulevard in Sumgait. After completion of the construction works, the limited liability company Sumqayit Bulvari was created to manage the boulevard.--08D--
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review