Mikayil Jabbarov: Azerbaijan’s forex reserves 10 times higher than external debt

Azerbaijan’s foreign exchange reserves are 10 times higher than its external debt, Economy Minister Mikayil Jabbarov said at the 18th session of the SPECA Governing Council in Baku, Report informs.

"Over the past 20 years, GDP has grown four times, budget revenues have increased more than 30 times, foreign trade turnover has increased 10 times. We have managed to reduce external debt, and currently, it is about 10% of GDP. We have created a favorable investment climate not only for the energy sector, but also for other sectors," the minister added.