Rates of Putting Housing into Operation Falling
According to the State Statistics Committee, by 1 August 888.7 thousand sq. meters of housing was commissioned (minus 14.5% against January-July last year - 1 million 39.2 thousand square meters).
At the end of seven months June is considered to be the best (213.7 thousand sq. m).
Apparently, by the end of the year last year's result (1 million. 927.2 thousand square m) will not be achieved, as well as the final figure for 2014 (1 million 978.3 thousand sq. m), or the figure for 2013 (2 million 138.8 thousand sq. m), not to mention earlier periods, when the peak activity was recorded in this segment of the economy. --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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