Baku: Azerbaijan's strategic foreign exchange reserves have reached an impressive AZN 88.4 billion, as announced by Finance Minister Sahil Babayev. The announcement was made during the discussion of the draft law "On the Execution of the State Budget of the Republic of Azerbaijan for 2025" at a recent meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.

According to Azeri-Press News Agency, Minister Babayev highlighted that Azerbaijan is among the nations with the lowest ratio of public debt to GDP. He noted that the risks associated with public debt, including exchange rate and external market risks, have diminished during this period. The average repayment period for the country's debt now stands at 3.83 years. The strategic foreign exchange reserves, which have reached AZN 88.4 billion, exceed the country's GDP by approximately 15%. The country's budget was executed with a surplus, and non-oil revenue coverage of current expenditures in budget execution has reached 92%, surpassing the forecast by more than 7.5%. The government aims to increase this coverage to 100% in the coming year.