Started Regular Regional Trainings by Finance Ministry
The Ministry of Finance of Azerbaijan was the start of the autumn regional trainings on the basics of international accounting.
According to the official website of the Ministry of Finance, the next regional training for chief accountant of budget organizations began this Monday, Oct. 21, in the Finance Department of the Ministry for Ganja and Yevlakh , as well as Shamkir and Imishli .
Trainings organized by the Finance scientific and educational center of the Ministry of Finance as part of the reporting in the corporate and public sector (CAPSAP), will last two weeks and will cover 12 districts of the country. - 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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