Medical insurance to break the deadlock
Baku has hosted an international seminar on the financing of health insurance.
As the Deputy Prime Minister Ali Akhmedov said at the opening, it's time to introduce new methods for the successful implementation of the project. According to him, three entities deal with this - the World Bank, the Cabinet of Ministers and the Ministry of Health.
According to the speakers, for the successful implementation of the financing of health insurance it is necessary to use the advanced experience of foreign countries, to improve the medical staff, to provide effective use of public funds, to raise the level of health and to find new ways to finance health insurance. In addition, there is a need for financial incentives of physicians. --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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