President Ilham Aliyev: Azerbaijan"s foreign exchange reserves exceed its foreign debt almost 16 times

"Recently, two major international rating agencies (Moody"s and Fitch) have increased Azerbaijan"s ranking," said President of Azerbaijan Ilham Aliyev during his speech at the 80th session of the UN General Assembly, Report informs.

"This underscores our economic resilience, strong fiscal discipline, and favorable investment climate. Our foreign debt is only 6.5% of GDP, which is one of the lowest in the world. Azerbaijan"s foreign exchange reserves exceed its foreign debt almost 16 times," the head of state emphasized.