Improving Targeted Social Assistance
A decree on improving the system of targeted social assistance has been issued. Yesterday the country's president signed a document which stated that the centralized information system of the Ministry of Labour and Social Welfare should be a unified electronic subsystem of calls and appointments for targeted social assistance (VEMTAS).
The Ministry of Labour and Social Welfare is entrusted with the five-month reception of applications on paper or in electronic form for targeted social assistance on the principle of "single window" and with the necessary arrangements to obtain the relevant certificates in electronic form from government agencies . The Ministry is also requested to prepare and submit to the head of state proposals for the provision of official vehicles or appropriate compensation to employees of centers for social protection of the population of districts (cities), carrying out inspection of material living conditions of families that applied for targeted social assistance.
the Ministry of Communications and High Tech is instructed within three months to procure information kiosks, have the necessary technical capacity to supply references about getting targeted social assistance to install them in all post offices operating in the country, and to connect to the portal of "electronic government". It is also expected to provide equipment in conjunction with the Ministry of Labour and Social Protection of the mentioned special program stalls. The same agency is charged with ensuring free persons who have applied in electronic form for obtaining targeted social assistance, electronic signature, which may be used only for the e-services.--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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