Azerbaijani president: We must not allow reduction of foreign currency reserves

"My instruction to the government was not to allow a reduction in foreign currency reserves. If necessary, one can cut costs a little, especially investment spending, but at the same time, we must maintain our foreign currency reserves and try to increase them," Report informs, citing Azerbaijani President Ilham Aliyev’s 12 January interview with local TV channels.

"This gives us economic independence. It is impossible to talk about political independence without economic independence," the president said.