In 2016, the assets of the insurance company Mega Sigorta increased by 10.9% or AZN 4,295,048 compared to 2015, amounting to 40,641,639 manat.
The capital of the company for the same time increased by 16.7% or 4,050,003 manat and amounted to 28,335,808 manat.
Over the reporting period, Mega Sigorta's obligations amounted to 12,305,831 manat (an increase of 245,045 manat or 2%).
In 2016, the insurance company’s income amounted to 25,151,883 manat, and the expenses were 17,517,116 manat. The net profit was 6,107,813 manat. ----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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