
Finance Ministry Places T-bills for AZN 10 Million
At the auction held on March 7, the Ministry of Finance fully placed T-bills issued in face value for a total of 10 million manat.
According to the Baku Stock Exchange, the T-bills with circulation period of 182 days were placed at the weighted average price of 92.87 manat with a nominal value of 100 manat. The yield on the T-bills was 15.56% per annum. The previous time (February 21), the yield on these T-bills was 15.76%.
A total of 11 investors submitted applications for a total of 42.9 million manat. ----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