BAKU, Azerbaijan, September 25. Azerbaijan's strategic reserves exceed its GDP and cover 41 months of imports, Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, said at the 2nd Azerbaijan International Investment Forum in Baku today, Trend’s correspondent reports from the event.
"Strategic reserves also exceed the M2 money supply by 3.5 times. Azerbaijan's external public debt stands at 6% of GDP. Economic dollarization has continued to decline, with the share of resident foreign currency deposits reaching a historic low of 25.8%. The manat exchange rate has remained stable since 2017. According to the CBA's July forecast, Azerbaijan's non-oil GDP is projected to grow by 4.4% by the end of 2026. Meanwhile, the current account surplus stands at $6.1 billion," Kazimov said.
He noted that inflation is within the CBA's target range and is expected to remain there in the medium term.
Kazimov highlighted that amid the global uncertainty, Azerbaijan prioritizes attracting international capital to finance infrastructure, industrial development, and regional connectivity in order to ensure sustainable economic growth.
He added that Azerbaijan, as a strategically located transport and logistics hub on the Middle Corridor, attaches great importance to foreign investment in the process of economic diversification.
The second Azerbaijan International Investment Forum is currently being held in Baku. The two-day forum is organized by Azerbaijan's Ministry of Economy and the Azerbaijan Export and Investment Promotion Agency (AZPROMO), under the ministry, in strategic partnership with The European House – Ambrosetti.
The forum's plenary and panel sessions address strategic topics including the Middle Corridor, energy and the green transition, artificial intelligence and digital transformation, infrastructure, industry and free economic zones, critical raw materials, agribusiness, financial cooperation, small and medium-sized business development, tourism, and investment in real estate and human capital.
