National Centre for Nuclear Research to develop substantially
The order of the President on May 8, 2014 on the establishment of JSC National Centre for Nuclear Research at the Ministry of Communications for the use of nuclear technology for peaceful purposes will be supported by more detailed documents.
As said on Thursday the Deputy Minister of Communications and High Tech Iltimas Mamedov, in the coming days it is expected to approve the statute, regulations and other legal basis for the work of this structure. According to the official, the training is about to finish, the location of the center is determined, a program is being prepared, etc. All these issues will be resolved before the end of the year.
The center was founded on the basis of national interests in order to improve the material and technical base of the sphere of nuclear technology, gain highly qualified human resources and expand research in this area. --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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