Green Tea Plant Opened In Astara
For the first time in Azerbaijan, a factory has opened for the production of green tea. As stated in the Ministry of Agriculture, the opening of the plant at LLC Astarachay was made possible by the working farm Astarachay.
"The total sown area of the plant is 640 hectares and the tea plantation area is 400 hectares. Seeds of the varieties Colchis have been purchased in Georgia and brought in line with local conditions. Also, in addition to the local varieties Hashemi, the Italian productive varieties will be used," the report says.
The daily project capacity of the plant designed by Korean specialists is 12 tons. According to the ideas of the designers, in the event of an increase in demand in the future, the power of the plant can be doubled up to 24 tons per day. --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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