BAKU, Azerbaijan, May 30. Azerbaijan's main systemic advantage is predictability and stability, Minister of Economy Mikayil Jabbarov said at the second Sea Breeze Investment Forum 2024, dedicated to the opportunities of corporate and private investments in real estate, Trend reports.
“Azerbaijan's systemic strength lies in its predictability and stability. With robust macroeconomic indicators, including a very low public debt and external debt comprising less than 8 percent of GDP, the country's future outlook is promising. The substantial reserves, equivalent to the GDP volume, coupled with consistent currency and exchange rate policies, uphold stability in both Azerbaijan and the broader South Caucasus region. Furthermore, Azerbaijan maintains active collaboration with its neighbors and partners,” he said.
To note, Azerbaijan's GDP grew by 4.3 percent from January through April 2024, year on year, to 38 billion manat ($22 billion). Whereas in 2023, GDP increased by 1.1 percent compared to 2022, up to 123 billion manat ($72.3 billion).
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