The first national satellite AzerSat will orbit February 6
The date of launch of the first national satellite (AzerSat) of Azerbaijan has been determined. From February 6, next year the aircraft, owned by "Azerkosmos" and intended to provide satellite TV services and Internet access, will orbit the Earth.
In 2010, the Government of Azerbaijan signed with Malaysian Measat an agreement on sharing the point 46, as well as an agreement with the American company Orbital Science to create the satellite and the French Arianspace - on the startup.
On May 3, 2010 the President signed a decree on the establishment of the Closed Joint-Stock Company "Azerkosmos". Since then, the company has attracted foreign loans under state guarantee, built surface infrastructure. Supposedly, in 2015 the company will launch a second satellite. - 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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