The past year proved unprofitable for the Central Bank of Azerbaijan. According to the financial statements published on the website of CBA, the operating loss of CBA by January 1 of this year amounted to 245 million 307 thousand manat (in 2013 an operating income of 315 million 136 thousand manat was recorded).
Net loss for the CBA last year amounted to 308 million 734 thousand manat (2013 - net profit of 280 million 573 thousand manat). By January 1, the negative amount of capital was 57 million 743 thousand (against a positive value of 250 million 991 thousand manat a year earlier).
The total assets of the financial regulator grew (+ 2.6%) up to 15 billion 726 million 698 thousand manat. Of these, cash was 5 billion 144 million 849 thousand manat (minus 38.6%), investment securities - 3 billion 600 million 246 thousand manat (an increase of 3 times), and investments in trading securities - 2 billion 939 million 638 thousand manat (+ 52.3%). --17D-
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- 24 April 2015 15:01
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- 24 April 2015 15:17
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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