Baku: Azerbaijan has successfully liberated its territories and restored sovereignty, leading to a stable macroeconomic and financial environment over the past eight years, Deputy Prime Minister Samir Sharifov stated to journalists.
According to Azeri-Press News Agency, Sharifov emphasized the stability of Azerbaijan’s national currency and the improvement in its fiscal position.
He reported that during this period, Azerbaijan nearly doubled its financial reserves, which now equate to approximately 95% of the country’s GDP. Furthermore, the state’s external debt stands at a fraction of these reserves, specifically 15 times less, indicating strong initial financial conditions.
Sharifov also highlighted the importance of a favorable business environment as a key factor for economic growth. Efforts are ongoing to enhance legislation and facilitate dialogue with investors. The commission on the business environment, established by a presidential order, actively collaborates with business circles and investors, assesses the current situation, and implements necessary changes to encourage investment and foster economic development.