Monitoring activities by the government
The government should be accountable to the public.
With the financial support of the Agency for International Development USAID (United States) and organizational support of the local unit Transparency International will be held monitoring the performance of "National Action Plan for the promotion of open government in the years 2012-15," signed by the Head of State on September 5 last year.
The monitoring is the responsibility of the coalition of non-governmental organizations specializing in the economic development of the country. With the assistance of foreign experts developed the technique and methodology of the assessment.
The Center for Economic Research (CER) under the leadership of its founder Gubad Ibadoglu held the first seminar with the participation of heads of NGOs. According to head of Transparency Azerbaijan Rena Safaraliyeva, the process will last for 4 years, each year will be open to the public, including international, the results of the government (mainly in the mining industry).
According to experts, the foundation must be laid down requests for information, as a result of the responses to which it will be possible to make representation and the level of law enforcement for information. Time will tell if the local government will pass this exam. - 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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