President Aliyev: Azerbaijani economy to hit record level in 2022

Azerbaijani President Ilham Aliyev has said that all instructions, all recommendations of Azerbaijani national leader Heydar Aliyev have been fulfilled.

President Aliyev made these remarks at the Heydar Aliyev Centre at an event on the occasion of the thirtieth anniversary of the establishment of the ruling New Azerbaijan Party, Caliber.Az reports.

“While continuing and developing Heydar Aliyev’s political line, we have built a strong Azerbaijan, which every Azerbaijani is proud of,” President Aliyev said.

“We have strengthened economic reforms and the work conducted in this sphere over the past 19 years is clear. It is enough to say that our economy has grown by more than three times from 2003 up till now. Our economy will reach a record level this year. The forecast, expected by the end of the year, testifies to the fact that our economy will reach 130 billion manats ($76.5 billion). This is a record figure. As a result of our successful economic and financial policy, we have been able to greatly reduce external public debt. This is also a great benefit for both today and future generations because today our credit rating is being improved for future generations because this burden does not fall on them. As a result of the reforms carried out upon my instruction a few years ago, we will reduce the share of our external debt in gross domestic product to 10 per cent by the end of this year. As for our foreign exchange reserves, they exceed the external debt by eight times. Only some countries can be proud of these indicators,” the president said.