Baku, Azerbaijan, Jan. 29


Azerbaijan’s currency reserves have increased by 23 times to $42 billion over the past 14 years, said Azerbaijan’s President Ilham Aliyev addressing a conference dedicated to the fourth year of implementation of the state program on socio-economic development of regions of Azerbaijan in 2014-2018, held at the Heydar Aliyev Center in Baku Jan. 29.

“We have invested in big investment projects, infrastructure projects, the construction of oil and gas pipelines,” the president said. “These are the projects that require huge funding. At the same time, we have increased our currency reserves by 23 times.”

“Today, Azerbaijan holds one of the leading places in the world in terms of currency reserves per capita,” the president added. “Our currency reserves are equal to the gross domestic product. Economists know well what this figure reflects.”

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