BAKU, Azerbaijan, September 24. Azerbaijan's strategic foreign currency reserves reached $73 billion as of September 1 this year, and this figure corresponds to 100 percent of the expected GDP by the end of the current year and almost 14 times exceeds the volume of external public debt, Prime Minister Ali Asadov said, Trend reports.
He made the remark during a speech in the Cabinet of Ministers at the discussion of the draft state budget and consolidated budget for 2025 and indicators of the consolidated budget for the next three years, the concept and forecast indicators of economic and social development for 2025 and the next three years.
“The level of direct external state debt remains at a low level. According to the data as of the first of September, it is $5.3 billion, which is equivalent to 7.5 percent of GDP," he said.
Azerbaijan's strategic foreign exchange reserves grew by 7.86 percent or $5.317 billion compared to the beginning of the year, and by 6.1 percent year-on-year.
To note, according to the forecasts of the Ministry of Finance of Azerbaijan, by January 1, 2025, the external state debt of Azerbaijan is projected at the level of $5.2 billion, the internal state debt is 19.3 billion manat ($11.3 billion), and the and the total state debt is 28.1 billion manat ($16.5 billion).