Formal employment is growing
In January, unemployment status was obtained by 552 people, and unemployment benefit was appointed to 621 citizens.
As stated in the State Employment Service of the Ministry of Labor and Social Protection of Azerbaijan , has on its account and to ensure employment as a temporary or permanent - the opportunity is given to citizens in 1905 .
In addition, in January 150 people were sent to training courses in accordance with the requirements of the labor market. As of February 1, 13 people were involved in paid public works.
In the cities of Baku, Sumgait, Ganja and Mingachevir 314 people were employed in temporary jobs through labor exchanges," the statement reads.
According to the State Statistics Committee, as of 1 January of this year officially registered 36,209 unemployed persons (previous year was 36,791). Unemployment benefit was 268.5 manat (previous year - 224.1 manat ) .
By the beginning of the year the number of able-bodied population was 4 million 757.8 thousand people. - 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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