Investments in Communication Tripled
In the first quarter of 2015 the development of information, communication and mail was invested 104.5 million manat (three times more than by April 1 last year).
According to the Ministry of Communications and High Technologies (MCHT), the share of the segment fell to 3.2% of total investment in the local economy. Less than half of the investments (41.2 million manat) fell on the state-owned enterprises within the structure of the Ministry of Communications.
According to MCHT, total revenue of telecoms, ICT and mail by April 1 totaled 397.3 million manat (+ 10.5%), with most of them (375 100 000 manat or +10.4%) occurred in ICT, while mail produced 9.5 million AZN and the information sector produced 12.7 million manat.
From January to April Azerbaijan put into operation 16 new ATS, expanded 24 ATS and reconstructed one ATS. As a result, the mounting capacity of the telephone network in the republic amounted to 1,840,244 numbers. The total number of fixed telephones has increased to 1,490,699 units. In addition, the total length of fiber optic cable has become 138.5 km.
According to official statistics, for every 100 people in the country there are 18.65 stationary telephones.
For every 100 people in the country there are 112 mobile phone users. --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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