Grain yield in Azerbaijan has reduced, which was recognized by the State Statistics Committee.
According to him on August 4, the yield was only 24 tons per hectare (minus 3.6 in comparison with the result of the previous year). This was the reason for the reduction yield of grain from 1,875,010 to 1,442,353 tons.
By August 4 Fruitful were fields of Barda region - 36,7 quintals per hectare. The lowest yield (5,2 quintals per hectare against 20,6 quintals per ha) was recorded in the Gobustan region.
Experts attribute the shortfall to the actual drought in most of Azerbaijan. There did not help the new agricultural machinery, purchased by the government for lease by large farms. -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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