This year Azerbaijan has received a record corn crop - 181 thousand tons. According to experts, the increasing interest of farmers to this culture is associated with the development of livestock and poultry, as well as the food industry.
According to the committee, this year's crop is increased in comparison with 2011 by 20%. This is achieved in an increase of cultivated areas (+8.4%) and yield (13.4%). This year's corn fields occupied 35.9 thousand hectares. From 1 ha were collected 51.4 tons per harvest.
The Ministry of Agriculture told Turan the growth trend in corn production will continue in 2013. - 08B-
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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