FCUA to Protect Interests of Road Users
On the roads in Azerbaijan there is chaos, leading to countless road accidents and casualties. Public resistance to lawlessness on the roads and public transport is completely absent, which leads to the fact that not coping powers and duties of supervising government agencies turn a blind eye to the problem. This was stated at today's press conference, representatives of the public.
Chairman of the Union of Free Consumers of Azerbaijan (UFCA) Ayyub Huseynov said that the incoming parliament in 5 years ago, the draft law "On mandatory insurance of passengers" was removed from the agenda, and important for consumers and society as a whole document still does not care deputies.
Huseynov said that every day on the roads of Azerbaijan 3.5 people are killed, maimed 9 people. Transport companies dump the blame for these accidents to drivers. To resolve the traffic problems at UFCA a commission for the protection of consumer rights of road users.
The main activities of the commission will educate pedestrians and drivers, traffic safety monitoring, and preparation of proposals for the improvement of traffic management, said commission chairman Lidiya Mirzoyeva. - 08C-
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- Economics
- 28 June 2013 17:11
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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