Expenditure of Accounts Chamber Last Year
The Chamber of Accounts of Azerbaijan (CAA) cost the state budget 3 million 249 thousand 962 manat last year, says the official information from CAA.
CAA not only abided in the estimate (3 million 634.16 thousand manat), but also saved 10.57% on several positions. The main volume of funds in the reporting year was directed to pay the salaries of staff members (1 million 558.44 thousand. Manat or 47.9% of total expenditures). The salary is also linked to a number of other items of expenditure - payments of other types of wages were 479,340 manat, travel expenses abroad - 65.37 thousand manat and travel expenses within the country - 88.01 thousand manat.
In addition, contributions to the State Social Protection Fund for 2014 amounted to 457.24 thousand manat, and expenses for the purchase of vehicles were 200 thousand manat. --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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