BAKU/12.12.13/TURAN : At Park Inn with financial and organizational support of the European Commission the final conference of the project " Improving governance by strengthening the role of decision-making brain centers" was held.
Participants of the conference noted that Azerbaijani society has a chance to return to the track of democratic reforms , but without the participation of the expert community the opportunity may be lost. Even worse, if the non-governmental sphere will lose autonomy and begin to serve to political elite, then the process of democratization can move into oblivion for a long time . The project showed that the expert community in this country have formed and may affect certain processes related to management efficiency.
According to the chairman of the Center for Economic Research Ghalib Togrul , two-year project implementation partners were also Public Association of open societies and association " Perfect Citizen" . Within the framework of cooperation and training during 7 18 NGOs from four regions of the country were able to strengthen their skills and knowledge in the implementation of projects with inaccessible information. On the basis of corporate splicing originated Alliance brain centers of Azerbaijan , as evidenced by a bilingual information portal http://thinktank.az, as well as two productive edition. - 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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