Supervision of Precious Metals Identified over 15,000 Wrong Products
In the first quarter of 2013 there were revealed 15 535 precious items that had not been probed by the state.
As the site of the Ministry of Finance says, they found violations of public service supervision of precious metals and products at Ministry of Finance of Azerbaijan.
Surveillance activities in the state probing were held in January and March of this year by 18 entities. On the defective products the probing revealed traces of unknown origin. Jewels were tested by respective state trials," the report says.
As a result, the Ministry of Finance transferred to the state budget 136.12 million manat and the tax offenders were brought to administrative sanctions in the amount of 10.4 million manat.
In the first quarter, total revenues for the state budget from the services of examination, testing and probing of jewelry rendered by the supervision service totaled 411.76 million manat, the site says. - 17D-
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review