Sixth Deputy Minister of Economy of Azerbaijan appointed
President Ilham Aliyev has signed an order appointing Anar Akhundov as the new Deputy Minister of Economy.
Thus, today Economy Minister Mikail Jabbarov already has six deputies, including First Deputy Elnur Aliyev and deputies Sahib Alakbarov, Sahib Mammadov, Rovnaya Ablullayev, Samed Bashirli and Anar Akhundov.
Prior to that, he served as an advisor to the Minister of Economy and was appointed a member of the supervisory board of the State Oil Company of the Republic of Azerbaijan in November 2022.
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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.
1 comment
Samir
2024-04-18
7-ci yox, 6-cı. Elnur Əliyev, Sahib Ələkbərov, Sahib Məmmədov, Rövnəq Ablullayev, Səməd Bəşirli və Anar Axundov (təyin olunan).