
Transport workers master more than half of the allocated funds
In the first half of the year, transport workers mastered 62.48% of total investments, provided in the budget of Azerbaijan, and agreements with international financial institutions.
According to the Ministry of Transport, infrastructure improvements, road sector in January-June, amounted to 900.83 million manat. Till the end of December one billion 441.8 million manat should be spent for the improvement and maintenance of the road transport sector.
From the transport Fund, 111.2 million manat have been allocated from the budget for the repair of roads. Parliament provided transference of 180 million manat per year to the Fund by government agencies.
The "Baku city transport" and "Center of intellectual transport management" have already mastered AZN 2.5 million from the limit of 5.8 million manat.
In January-June, expenses for development and maintenance of roads of the republic totaled 855.4 million manta; 225.2 km of roads, including 58.5 km of roads of national significance, 166.7 km of local roads and six bridges, have been built. -17D-
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- Social
- 28 August 2012 16:00
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- Question-answer
- 28 August 2012 17:17
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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