Protests in Mountain Shirvan associated with low life
Protests in Ismayilli might not have happened if th authorities had provided life and employment of the local population - the chairman of the non-governmental Centre for Economic Development Gubad Ibadoglu said.
According to him, the Mountain Shirvan economic region is beyond the attention of the political authorities - in the past year they only allocated 1.1% of the total investment in the country amid grandiose buildings in the capital, as well as a multi-billion resort in the neighboring Gusar. The wages are 40% lower than the average for Azerbaijan, and there is a lower level of full employment. - 17D-
-
- Economics
- 28 January 2013 19:12
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review