Azerbaijan's strategic currency reserves exceed $68 billion, prime minister says

Azerbaijani Prime Minister Ali Asadov has said that the country’s strategic foreign exchange reserves have amounted to $68.3 billion.

According to him, the strategic currency reserves of the country amounted to 97 per cent of the gross domestic product (GDP), Asadov said at a plenary session of the parliament on December 5, Report informs.

Asadov further said: “The rupture of traditional logistics chains between East and West against the background of geopolitical processes taking place in the region recently has increased the relevance of international transport corridors passing through the territory of our country.”

"Active participation in this corridor strengthens Azerbaijan's position as a regional trade and transit hub. It increases the importance of our country as a strategic partner for Asia and Europe," the prime minister said.

He also went on to say that Azerbaijani President Ilham Aliyev has brought peace and tranquillity to the region by relying on a strong national economy.

Asadov noted that the main configuration of the budget has been prepared taking into account the main tasks: "These are restoration of Karabakh and East Zangezur economic regions, continuation of measures to ensure the Great Return, social protection and social security of the population, strengthening of national security and army, ensuring food security and supporting the development of entrepreneurship."