“Our strategic foreign exchange reserves have reached $88.4 billion”.
elchi reports that Minister of Finance Sahil Babayev stated this during the discussion of the draft law “On the execution of the state budget of the Republic of Azerbaijan for 2025” at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.
The minister noted that Azerbaijan is one of the countries with the lowest ratio of public debt to gross domestic product (GDP): “Exchange rate and foreign market risks of public debt have decreased during this period. Our average maturity period has already reached 3.83 years. Our strategic foreign exchange reserves have reached $88.4 billion, which exceeds the GDP by approximately 15%. Our budget was executed with a surplus. Looking at current expenditures in budget execution, their coverage through non-oil revenues reached 92%, which is more than 7.5% above the forecast. We aim to reach 100% next year.”