Azerbaijan economy to hit record
2022.11.21 09:05
Azerbaijan economy to hit record
Budrigannews.com – By the end of 2022, Azerbaijan’s GDP will reach a record of 132 billion manat, or $76.5 billion, President Ilham Aliyev stated on Monday.
Azerbaijan’s oil- and gas-rich economy grew by 5.2% in the first ten months of the year, according to the country’s statistics committee last week, fueled by high energy costs.
Since 2003, our economy has expanded by more than three times.Nominal GDP is anticipated to reach 132 billion manat by the year’s end, according to forecasts.”This is a record,” Aliyev stated on Monday at a celebration marking the country’s ruling party’s 30th anniversary.
Additionally, Aliyev stated that the country had eight times more foreign exchange reserves than it had external debt, which was 10% of GDP.
($1 = 2.1 manat)
