Ministry of Finance Did Not Satisfy All Investors
The auction held on March 28 sold 94,985 out of 100,000 offered government mid-term bonds. The investors however had applied for bonds totaling AZN 26.5 million.
According to the Baku Stock Exchange, bonds with a maturity of 2 years were placed at the weighted average price of 100 manat 1 gepik or 14.99% per annum.
Prior to this, on February 28, the Ministry of Finance placed government medium term bonds in the amount of 10 million manat at a rate of 15% per annum. ---08D
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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