During the first quarter of 2013 in Azerbaijan were privatized 150 state-owned enterprises and small objects. For the comparable period in 2013 were denationalized 270 such enterprises and projects.
According to the State Committee on Property Issues (SCPI), from the beginning of the year were sold lands, on which about 130 objects are located. Some of them, which were formally abandoned by their users, were sold at public auction. During January-March last year, it sold 220 plots.
Through 12 cash and specialized cash auctions were privatized shares of 11 joint stock companies.
Also decreased investment in companies privatized on investment contests. In the first quarter, they decreased from 1.3 million manat (I quarter of 2013) to almost 1 million manats.
On the revenue to the state budget, as a rule, there are no SCPI reports. This year they are projected at 35 million manat.
Privatization in Azerbaijan is noncompetitive and all enterprises and objects are sold at auction at a starting price, which is several times lower than the market. Local media claim that the companies are sold to known persons. - 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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