Published the first electronic newsletter of the National Budget Group
The first e-newsletter for the non-governmental National Budget Group has been published.
Turan was told in the organization, a set of information contains a lot of interesting things about the operation of the unit, brings to the citizens of the real situation in the public sector.
According to representatives of the economic network of non-governmental organizations, in the discussion of the budget should include not only members of the Ministry of Finance and officials, but also the general public. That is the broad readership to calculate the full information available on the revenue and expenditure of the state budget, the debate about "open government."
The readers are fully acquainted with the components of social life, as the cost of living and consumer basket. The newsletter is also interesting for economists. - 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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