The Central Bank of Azerbaijan (CBA) reports that in Azerbaijan by March 1, there were 2,562 existing ATM (minus 4.9% to the beginning of the year). Most of them (1,424) were installed in Baku, and the rest 1,138 - in areas of the country.
During the First European Games significant increase in the number of POS terminals was recorded in June of last year (+ 6.9%), but now the total number is 77,250 (minus 3.8% to the beginning of the year) in all trading facilities and services. In Baku, there are 44,712 (minus 8.7%) and in the regions there are 32,538 (+ 3.8%). Almost all of them (98.3%) operate in retail trade facilities (75,918). --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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