Baku: Azerbaijani President Ilham Aliyev has emphasized the country’s low foreign debt levels during his speech at the inauguration of the 240 MW ‘Khizi-Absheron’ Wind Power Plant. The facility, constructed by Saudi Arabia’s ACWA Power, was officially opened at a ceremony held at Gulustan Palace in Baku.
According to Azeri-Press news agency, President Aliyev highlighted that Azerbaijan’s foreign debt accounts for slightly more than 6 percent of its gross domestic product. He also noted that the country’s foreign exchange reserves surpass its foreign debt by 16-17 times, positioning Azerbaijan as a global leader in this regard. President Aliyev asserted that these factors, among others, make Azerbaijan an attractive destination for investment, citing political, economic, and social stability as key elements supporting this claim. He further mentioned the ongoing peace and significant construction efforts in the country, reinforcing the confidence foreign companies have in Azerbaijan’s investment landscape.