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President Ilham Aliyev: Azerbaijan one of few states to submit voluntary national reviews to UN twice

Politics Materials 30 September 2020 14:26 (UTC +04:00)
President Ilham Aliyev: Azerbaijan one of few states to submit voluntary national reviews to UN twice

BAKU, Azerbaijan, Sept. 29

Trend:

Azerbaijan has been one of the few states to submit voluntary national reviews to the United Nations twice, President of the Republic of Azerbaijan Ilham Aliyev said making a speech in a video format at the meeting of Heads of State and Government on “Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond”, Trend reports.

“Azerbaijan’s economy has developed rapidly. The GDP tripled in the last 17 years. Poverty in Azerbaijan went down from 49 percent to 5 percent within 17 years. The external public debt of Azerbaijan is one of the lowest in the world and constitutes only about 20 percent of the GDP and Azerbaijan ranks 9th for this indicator globally. Azerbaijan has the lowest external debt among the oil-exporting countries,” the head of state said.

Foreign Exchange Reserves of Azerbaijan exceed the external public debt by 6 times, the Azerbaijani president added.

“More than 260 billion USD were invested in the country within 17 years. According to the statistics provided by the International Monetary Fund, currently, Azerbaijan’s economy accounts for 70 percent of the entire economy of the Southern Caucasus region based on the purchasing parity power method,” the head of state said.

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