CBA chairman: Strategic foreign exchange reserves exceed 95% of GDP in Azerbaijan

Azerbaijan's strategic foreign exchange reserves accounted for more than 95% of the country's gross domestic product, Chairman of the Azerbaijani Central Bank (CBA) Taleh Kazimov said at a high-level presentation event of the World Bank's World Development Report (WDR) 2024 in Baku, Report informs.

In addition, according to him, over the past 20 years, Azerbaijan's economy has grown approximately 3.8 times, including the non-oil sector which grew 3.7 times.

"During this period, our total exports and non-oil exports increased by 7.8 and 6.3 times respectively, while investment in our economy increased by 4.4 times," the chairman noted.