BAKU, Azerbaijan, Jan. 12
Trend:
Our foreign exchange reserves have increased by $2.5 billion, President of Azerbaijan Ilham Aliyev said in an interview with local TV channels on January 12, 2022, Trend reports.
"Our foreign exchange reserves have increased even though we had major expenses last year. The investment program has been fully implemented, especially in Karabakh and East Zangazur regions and other parts of the country. Nevertheless, our foreign exchange reserves have increased by $2.5 billion. As you know, my general instruction to the government has been that we should not allow the reduction of foreign exchange reserves. If necessary, we can reduce costs, especially investment costs, but we must keep our foreign exchange reserves stable and try to increase them. Because this gives us economic independence, and without the economic independence it is impossible to talk about political independence," the head of state said.