Japan to help Azerbaijan"s ICT
The Minister of Communications and Information Technologies of AR Ali Abbasov is on an official visit to Japan - the information portal MCIT .
The visit from 9 to 12 December inclusive will include meetings with the State Minister of Economy, Trade and Industry, Minister of Education , Culture, Sports , Science and Technology , as well as Secretary of State for Internal Affairs and Communications of the country.
During the visit scheduled familiarity with the activities of the Japanese Aerospace Exploration Agency, the company Mitsubishi, High Technology Center TEPIA, and Broadcasting Corporation NHK. In addition, meetings will be held with the heads of leading Japanese companies. - 17D-
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- Economics
- 9 December 2013 17:09
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- Photo sessions
- 9 December 2013 17:13
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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