Azerbaijan’s strategic foreign exchange reserves reach $83.5 billion

Azerbaijan’s strategic foreign exchange reserves increased by $12.5 billion, or 17.6%, in January–November of this year, reaching $83.5 billion, according to Report.

“This amounts to 142 billion manats in the national currency and exceeds the projected gross domestic product for 2025 (130 billion manats) by 8 billion manats,” Prime Minister Ali Asadov said at today’s plenary session of the Milli Majlis during the discussion of next year”s budget package in its third reading.

He added that currently, the country’s foreign exchange reserves are 17 times greater than its external debt.