Office Building of Social Protection Fund Opened in Mingachevir
An administrative building of the branch of the State Social Protection Fund of Azerbaijan has opened in the city of Mingachevir.
According to the chairman of the State Social Protection Fund Salim Muslimov, this fully furnished 75th Regional structure of the fund, the press service of the State Social Protection Fund. All offices are "communicated" to each other by means of a unified automated information network. As part of the "sophisticated clients" system, it combines 2,200 computers.
As of July 11 retirement pension shall be appointed from a single data center as part of centralization. "Five minutes to the pensioner" simply dial 190-0 Center queries and report the identity card number. As of August 20, over the past month, more than 200 complaints of citizens decided positively.
Pensions assigned to them in the online mode in a matter of minutes, informed and address of the nearest branch of the bank, where they can get a plastic pension payment card. - 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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