The President Ilham Aliyev signed two decrees regarding the increase of products of animal origin, improvement of livestock breeding and food security of the country.
The President signed a decree on the allocation from his reserve 13.5 million manat "Agroleasing" to import from abroad breeding animals and selling them by the lease with a 50% discount to agricultural producers.
Ministry of Agriculture allocated 1.5 million manat for the reconstruction of the artificial insemination center.
Pursuant to Clause 32 of Article 109 of the Constitution, in order to meet the needs, Ilham Aliyev signed another decree on allocation 15 million manat for "Agroleasing" to purchase grain combiners.-02D-
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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