Azerbaijan is not satisfied with its current standing at international credit rating agencies, Finance Minister Sahil Babayev said.
Speaking to Report, Babayev noted that global rating agencies have highly rated the country's prudent fiscal policy, efforts to reduce dependence on oil, and the growth of foreign exchange reserves to $84 billion.
"Fitch has assigned Azerbaijan an investment-grade rating with a ‘Stable' outlook, while Moody's has given an investment-grade rating with a ‘Positive' outlook," he said. "We believe these are clear indicators of Azerbaijan's financial resilience, strong fiscal position, and monetary stability."
However, Babayev stressed that the government aims higher. According to him, Azerbaijan's currency buffers, overall financial health, rising non-oil revenues, and socio-economic stability justify stronger ratings.
He added that the country will continue working closely with international rating agencies to achieve better indicators in the future.