On the initiative of the Baku Interbank Currency Exchange (Bak? Banklararas? Valyuta Birjas?-BBVB) and Azerbaijan Microfinance Association (AMFA) on July 10 there was a "round table" with the participation of non-bank credit organizations (NBCO) on "Financial opportunities of the market for NBCO development."
According to the report by BBVB, during the meeting the participants discussed issues related to the structure of the financial market of Azerbaijan and its current state, the relevance of the money market, as well as the ability to control liquidity in the money market. - 15D -
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review