Two-thirds of Municipalities in Azerbaijan Have No Clear Boundaries
Only one-third of municipalities in Azerbaijan (578 of 1,607) have clearly defined borders, in spite of 16 years of experience.
As reporters were told yesterday by the deputy chairman of the State Committee for Property Affairs Rafig Jalilov, documents of 150 other self-governing bodies have been transferred to the parliament, and works are continued on land inventory accounting, which determines not only borders, but also the category of sites.
In turn, the head of the Center for Work with Municipalities under the Ministry of Justice of AR Mehdi Selimzadeh lamented the fact that most of the existing bodies do not have their own administrative buildings. The reason for the phenomenon is that they have sold a part of their structure in order to obtain benefits. "We have appealed to the State Committee for Land and Cartography with suggestions and recommendations on the approval of the rights to property and land of municipalities, but the problem is still not solved. This situation creates serious problems for the local authorities, as sales, taxes and fees are the main sources of municipal revenues," he said. --- 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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