Real income of population in Russia won’t grow fast in near future — analystBusiness & Economy August 24, 8:19
Strategic bombers of Russian Air Force make flights over Pacific Ocean, Sea of JapanMilitary & Defense August 24, 6:59
UN envoy slams anti-Russian sanctions imposed over North KoreaRussian Politics & Diplomacy August 23, 21:29
Criminal case over Ukraine's map without Crimea and Donbass opened in KievWorld August 23, 21:17
Netanyahu says every encounter with Putin benefits Israel’s securityWorld August 23, 19:15
Netanyahu determined to prevent Iran from strengthening positions in SyriaWorld August 23, 18:21
Russia's military might on display at Army-2017 forumMilitary & Defense August 23, 18:20
Russian defense minister examines weapons seized from terrorists in SyriaMilitary & Defense August 23, 18:12
Grand Russian art exhibition to be held in Vatican in 2018Society & Culture August 23, 17:47
BAKU, October 24 (Itar-Tass) —— Azerbaijan’s strategic reserves have exceeded 40 billion U.S. dollars, Azerbaijani President Ilkham Aliyev said.
“In the first nine months of the year alone, our foreign exchange reserves increased by 11 billion U.S. dollars to exceed 40 billion U.S. dollars. This is a very big indicator, and Azerbaijan does not lag behind developed countries in this respect,” the president said on Monday, October 24, at a government meeting on the results of the socio-economic development of the country in the first three quarters of the year.
Given the correct oil and gas policy and constant correlation between investments and revenues, Azerbaijan’s foreign exchange reserves will continue to grow in the years to come, Aliyev said.
“This gives us the economic strength, enables us to implement investment projects, and at the same time protects and will protect us from any difficulties and crises,” he said.
He stressed that the budget revenues “are kept, managed and used reliably and transparently for the implementation of projects currently needed by the country”.
“In the future, we will use this money in the form of investments in various projects in other countries in order to diversify our financial resources,” Aliyev said.