President Ilham Aliyev after visiting the Zagatala region on November 4, where he took part in the commissioning of a number of social facilities, in the afternoon visited the Sheki district nearby.
There was also a commissioning ceremony at a number of facilities. In the area there was reconstructed a 28 km stretch of the road Sheki-Gakh. The introduction of the road in operation reduces the distance between the two regional centers by 42 km route and connects 22 localities.
The village Gohmuk has been rebuilt a high school building area of 5,277 square meters for 840 students. In the city of Sheki has been opened a new building of the Center for Justice on 19.8 thousand sq. m, as well as the building of a kindergarten for 160 places, built up on the initiative of Heydar Aliyev Foundation.
The head of state also reviewed the progress of the treatment complex Markhal, whose construction began in 2012 on an area of 32 hectares.
The Sheki region is located 290 km north-west from Baku and is included in the Sheki-Zagatala economic region. The population is 170 thousand. The main direction of economic development of the region is agriculture and tourism. -0-
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- Politics
- 5 November 2015 12:27
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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