BAKU, Azerbaijan, July 11. Double-digit inflation gives us food for thought. I hope that by the end of the year, inflation can drop to a single-digit level, said President Ilham Aliyev as he addressed a meeting dedicated to the socio-economic results of six months of 2023, Trend reports.
"In addition to natural reasons, there are also subjective reasons. They should be investigated more seriously and proposals should be made regarding steps to be taken before the end of the year. Because against the backdrop of Azerbaijan’s overall economic potential and the results achieved in the economic field, it is certainly not desirable for inflation to be at the level of 12 percent," the head of state added.
"We are also working in the direction of foreign state debt management on the basis of the assignments I gave a few years ago. I said a few years ago that we should set a goal, and we did set it, that our foreign public debt should be below 10 percent of our gross domestic product. It should be at that level. We have already reached this. We have reached this goal. In absolute terms, our debt totals 6.7 billion dollars, which accounts for about 10 percent of our gross domestic product. Of course, the final figures for our gross domestic product will be calculated at the end of the year. But it is possible to make a prediction even now. In the first six months, gross domestic product amounted to more than 60 billion manats," President Ilham Aliyev added.