BAKU, Azerbaijan, November 21. The events of the last 19 years show that it has been the case. All the tasks and recommendations of the Great Leader have been fulfilled, President of Azerbaijan Ilham Aliyev said during a speech at an event dedicated to the 30th anniversary of the establishment of the New Azerbaijan Party at the Heydar Aliyev Center on November 21, Trend Reports.
“So a very solid foundation of our statehood was laid in 1993-2003. Those years can be described as years of stability and development. The key thing is that this policy had to be continued. In 2003, the people of Azerbaijan showed wisdom again by expressing their respect for the personality of the Great Leader and voting for Heydar Aliyev's policy. I promised the people in 2003 that I would not turn from this path. The events of the last 19 years show that it has been the case. All the tasks and recommendations of the Great Leader have been fulfilled. He said in his political testament that many things had been done but his followers would do the things he could not do, and this is exactly what happened. By continuing and expanding on his political course, we have built a strong state of Azerbaijan in the true sense of the word. Every Azerbaijani is proud of this state, of our native state. We have deepened the economic reforms and the work done in this field in the last 19 years is obvious. Suffice it to say that our economy has grown more than three times since 2003. This year, our economy will reach a record high. The forecast by the end of the year says that our economy will reach 130 billion manats. This is a record indicator.
As a result of our successful economic and financial policies, we have been able to significantly reduce our foreign debt. This is a great advantage both for today and for future generations. Today, because our credit rating is improving. For future generations, because this burden will not fall on future generations. As a result of the reforms carried out by my order a few years ago, we will reduce the share of our foreign debt in the gross domestic product to 10 percent by the end of this year. If we look at our foreign exchange reserves, the volume of our foreign exchange reserves is eight times higher than our foreign debt. So only a handful of countries can boast of these indicators,” President Ilham Aliyev said.