Azerbaijan, Baku, Oct. 12 / Trend I.Khalilova, N.Ismayilova /
The Central Bank of Azerbaijan (CBA) forecasted the country's strategic currency reserves to reach more than $ 30 billion by late 2010, which is about three times higher than the total external public debt, CBA Chairman Elman Rustamov said on Tuesday while discussing the draft 2011-state budget at a plenary session of the parliament.
"To date, the countries strategic foreign currency reserves exceeded $ 27 billion and it covers a three-year imports of the country," Rustamov said.
Strategic foreign exchange reserves are formed from CBA foreign exchange reserves, SOFAZ assets and government deposits.
Earlier it was reported that the currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $6.057 billion in late third quarter. The figure is more by 895.9 million or 19 percent compared to early 2010.
Today 60 percent of the CBA's foreign exchange reserves are in dollars. The remaining 40 percent are in euro and pounds sterling.