Ilham Aliyev: We must further reduce external debt of state

Baku. 18 April. REPORT.AZ/ "Economic reforms have been carried out in Azerbaijan over the past 15 years, great importance has been attached to economic issues."

Report informs, President Ilham Aliyev said at the inauguration ceremony today.

"Only countries with a strong economy can pursue an independent policy. If you depend on someone, including foreign loans, you will not be able to pursue an independent policy. We do not need any foreign loans.

To date, our external debt is 20% of GDP. However, I set the task of further reducing the external debt in the coming years”, - president said.

The President said that since 2003 the economy of Azerbaijan has grown 3.2 times:"Of course, the oil factor has a special place in this growth, but our non-oil exports quadrupled in 15 years.This shows that our economic reforms have shown high efficiency”.