Record investment in the mining industry
According to the State Statistics Committee, the biggest increase in public investment from January to July was recorded in the mining industry (30.1%) with absolute numbers 2 billion and 946.1 million manat. The most significant decline was observed in the processing industry (minus 56.9%) - the total amount of 210.7 million manat. In general, the infusion in the industry totaled 3 billion and 581.2 million (+6.9% since the beginning of the year), or 47% of total financial investments in Azerbaijan's economy.
Investment in the generation of electricity, gas and distribution totaled 140.9 million (+16.2%), in the water supply and recycling of waste - 283.5 million manat (minus 40.5%).
In the sphere of transport and warehousing in January-June invested 551.9 million (minus 50.8%), information and communications - 62.6 million (minus 12.3%), public administration, defense and compulsory social security - 554.3 million (+ 0.9%), education - 234.6 million (+ 7.1%).
In the sphere of housing construction in January-June 2014 were invested 457.6 million (minus 0.9%.) Other investments were made into other sectors 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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