Azerbaijan's strategic currency reserves exceed external public debt PM says

Azerbaijani Prime Minister Ali Asadov has said that Azerbaijan's strategic currency reserves reached $73 billion, representing 100 per cent of the expected gross domestic product (GDP) for the end of the current year and exceeding the country’s external public debt by nearly 14 times.

Asadov made these remarks during discussions on the state and consolidated budgets, Caliber.Az reports, citing local media.

He emphasised that the country's direct external public debt remains low, amounting to $5.3 billion as of September 1, which corresponds to 7.5 per cent of GDP.

“Moreover, since 2020, approximately 17.5 billion manats [$10.2 billion] have been allocated for the restoration of Azerbaijan's territories liberated from occupation. Next year, 4 billion manats [$2.3 billion] are planned to be allocated for the reconstruction of Karabakh and East Zangezur,” he said.

He added that the resettlement process for former displaced people is ongoing.

By Naila Huseynova