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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.
2 comment
Muxtar Alxasov
2024-09-21
Mən Muxtar Alxasov Quba rayonu ƏRMƏKİ QİŞLAQ KƏNDİNdə 70ha bağ əkmişəm intensiv bağ .hələdə supsidayani ala bilmirəm xaiş edirəm köməy edəsiz .
Əzizov röyal Sahib oglu
2024-10-11
Qazax rayon ceferli kendinin sakiniyem torpağ senedi yazilir kentde menim evimin sugortasi yoxdu deye kend icra numayendesi torpaq sahesini yazmir sizden xahiw edirem bu ise baxasiniz