As a result of the long-term, successful policy implemented by President Ilham Aliyev, Azerbaijan has secured robust macroeconomic and macro-fiscal stability.
According to the Operative Information Center-OMM, Economy Minister Mikayil Jabbarov stated this during an exclusive interview with AZERTAC and ITV.
“Yes, our gold and foreign currency reserves currently exceed the volume of the country's gross domestic product. The dynamics of recent years demonstrate that despite all external shocks and global crises, the country's foreign debt is on a downward trend while our reserves continue to grow. This is our overall economic landscape,” the minister added.
Azerbaijan's economic strategy has increasingly focused on diversifying revenue streams beyond the oil and gas sector, strengthening the non-oil economy, and maintaining fiscal discipline. By prioritizing the reduction of external liabilities and accumulating sovereign wealth, the government aims to insulate the national economy from global market volatility and ensure long-term sustainable development.
