The depositors of 9 closed banks have been paid a total of 252,367,000 AZN in compensation, said the Deposit Insurance Fund.
According to Turan was, depositors of JSC Para Bank were paid 30 million 268 thousand, JSC Zamin Bank - 43 million 995 thousand, JSC Credo Bank - 16 million 852 thousand, and JSC Deka Bank - 2 million 763 thousand manats.
In addition, investors of JSC Atra Bank received 12 million 176 thousand, JSC Gafgaz Inkishaf Banki - 1 million 527 thousand, JSC Bank of Azerbaijan - 24 million 91 thousand, JSC Ganja Bank – 925,721, and JSC Tekhnika Bank - 119 million 770 thousand AZN in compensation. --71D
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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