Deputy minister: Azerbaijan's currency reserves cover five-years of imports

Business Materials 4 November 2013 19:59 (UTC +04:00)

Baku, Azerbaijan, Nov. 4, by E. Aliyev - Trend:

Support of macroeconomic stability and the development of the non-oil sector are Azerbaijani Ministry of Economy and Industry priorities, Azerbaijani Deputy Minister of Economy and Industry Sevinj Hasanova said while discussing the draft budget for 2014 at a meeting of the five committees of Azerbaijani Parliament today.

"The macroeconomic indices of the national economy are steadily improving," she said. "According to our forecasts, the country's strategic currency reserves currently allow full funding of the needs of the economy in imports for five years in the absence of exports."

Azerbaijan's strategic currency reserves are now close to $50 billion, accounting for 70 percent of GDP.