Space risks in the Journal of ARPA
The next magazine RISK Azerbaijan Risk Professionals Association (ARPA) has been released.
It is mainly dedicated to the Year of the information and telecommunication technologies, announced by the President. Experts and corporate members of the organization will be able to learn more about the risks in the space industry, operating risks, the use of information technology for oil, as well as the electronic payment system in banks.
On line magazine is on corporate governance and its basic principles. The publication is distributed among the full members of the Association.
Until today, ARPA had 29 corporate and 700 independent members. A number of other organizations are in the process of entering the ranks of the association and reach agreements. - 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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