Azerbaijan’s foreign exchange reserves rose by 41-fold in last 20 years

The head of the Department of Economic Policy and Industrial Affairs of the Presidential Administration, Natig Amirov, has said that Azerbaijan's foreign exchange reserves grew by 41 times to $65.9 billion, in the period from 2003 to April 2023.

"Over the past 20 years, the gross domestic product (GDP) increased by 22 times to 133.8 billion manats ($78.7 billion), and the GDP per capita surged 17.8 times to 13,292 manats ($7,819)" he said at the event held by the Central Bank of Azerbaijan on the occasion of Heydar Aliyev's 100th anniversary, according to Report.

"In 20 years, the nominal income of the population rose by 13.7 times to 68.9 billion manats ($40.53 billion), and the average monthly salary climbed by 13.3 times to 839 manats ($493.5)," Amirov said.