President Ilham Aliyev has announced certain figures regarding the development indicators of Azerbaijan during his speech at the 74th International Astronautical Congress in Baku.
“So, in the last 20 years, our GDP grew four times, our budget revenues grew more than 30 times, foreign trade turnover more than 10 times-gross. We managed to reduce our direct foreign debt, and now it is around 10% of GDP and by the end of 2024, according to our plans, it will be around 7-7.5% of GDP. Foreign exchange reserves in Azerbaijan exceed our direct foreign debt 10 times. So, in other words, if we would like, we can repay all our debts within a couple of months,” the head of state said.
“So, total investments in the last 30 years were more than 300 billion US dollars,” President Ilham Aliyev added.
