An online survey is held in Azerbaijan for the study of public opinion to improve the coverage and effectiveness of economic reforms.
The survey is conducted by the Service of the Assistant to the President of Azerbaijan on Economic Reforms and the Center for Analysis of Economic Reforms and Communication. At the same time, respondents have the opportunity to express their proposals in an open manner, and not by pre-designed templates.
Proposals for economic reform are accepted to: http://iqtisadiislahat.org/online-application. The survey is open to all interest groups: legal persons, individual entrepreneurs, as well as citizens.
Azerbaijan to eliminate the negative impact of falling oil revenues due to lower international oil prices, takes certain steps (tax incentives for investment, preferences for exporters, a change in the taxation scheme for the sphere of trade and catering, etc.). However, these measures have no effect on the overall situation and the economic growth. --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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