Aliyev says Azerbaijan has reduced external debt beyond expectations

Azerbaijan has achieved stronger results than expected in reducing its external debt, President Ilham Aliyev said at the opening ceremony of the 2026 Annual Meetings of the Islamic Development Bank Group.

The head of state noted that economic diversification in Azerbaijan is no longer just a target, but a reality. At the same time, he stressed that the country must continue working in this direction.

Speaking about external debt, President Aliyev said Azerbaijan had taken consistent steps to bring it down to 6% of GDP.

“I would even say that our success in this area has exceeded our plans,” the president said.

Aliyev noted that Azerbaijan does not expect serious difficulties in its economic development. He also pointed to the importance of large-scale social programs implemented in the country in recent years.

According to the president, Azerbaijan has carried out several social support packages over the past few years, reflecting the government’s focus on maintaining economic stability while supporting citizens.

The remarks underline Baku’s emphasis on low debt, economic diversification and continued social spending as key elements of Azerbaijan’s development strategy.