New york: President of Azerbaijan Ilham Aliyev highlighted the strong economic position of Azerbaijan during his speech at the 80th session of the UN General Assembly. He announced that the country’s foreign exchange reserves surpass its foreign debt by nearly 16 times.
According to Azerbaijan State News Agency, President Aliyev shared that two major international rating agencies, Moody’s and Fitch, have recently upgraded Azerbaijan’s ranking. This improvement reflects the country’s economic resilience, fiscal discipline, and a favorable environment for investment. President Aliyev further noted that Azerbaijan’s foreign debt accounts for only 6.5% of its GDP, positioning it as one of the countries with the lowest foreign debt globally.