Today is Day of Azerbaijani Ministry
Today marks 9 years since the establishment of the Ministry of Communications and Information Technologies (MCIT). Ministry established order of the President of the country from February 20, 2004 at the former Ministry of Communications.
According to the ministry, its creation was caused by the high rate of development and penetration into the daily life of information technology.
A good example is the implementation of an intensive development during the period of significant works in the information technology sector, government programs adopted in the field of ICT, the creation of the space industry and the launch of the first telecommunications satellite, a substantial increase in output of goods and services within the realized over the years of large-scale projects. Establishment of the Ministry helped the rapid development and deployment of information technology in the country.
For more rapid development of the sector and to ensure the application of advanced technologies in various areas of everyday life of the citizens in 2013 declared the head of state in the Republic of Azerbaijan "Year of information and communication technologies."
Recall that in Azerbaijan the first Ministry of Communications was created after the establishment in 1918 of the Azerbaijan Democratic Republic. Then this structure was called the Ministry of Post and Telegraph. - 17D-
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- Social
- 20 February 2013 17:43
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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