Housing for veterans of Karabakh war
The construction of six-story buildings of 54 apartments in the Goranboy, Tartar, Beylagan and Imishli regions, as well as a four-story 36-apartment house in the Shemakha area is finishing. The housing is being built by the order of the Ministry of Labor and Social Protection and is designed for people with disabilities and the families of martyrs who fought for the territorial integrity, independence and constitutional system of Azerbaijan.
According to the ministry’s report, from the beginning of the year new apartments through the ministry have been received by 118 people with disabilities and families of martyrs in various regions of the country.
In accordance with the presidential decree of 20 June 2014, in 2014-2018 it is projected in stages to provide new apartments or private homes in various regions of the country to 5,731 families of people with disabilities and martyrs, who were in the queue for obtaining property by January 1 of this year. -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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