Azerbaijani President announces record growth of country’s GDP
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Azerbaijan’s GDP reached record highs in 2022, President Ilham Aliyev said, writes TASS. The figure was almost $80 billion.
“According to the latest updated data (gross domestic product) has reached 134 billion manats, which is almost $80 billion,” the President of Azerbaijan said.
According to him, Azerbaijan’s foreign trade turnover exceeded $50 billion, the positive balance of foreign trade amounted to $25 billion. Aliyev noted that the country’s external debt fell below $7 billion. Last year, this figure fell from 17 to 9.5% of GDP. Aliyev also added that according to the results of 2022, inflation in Azerbaijan amounted to 13.9%. “This is imported inflation, and our ability to combat it is quite limited,” Aliyev added.
The President of Azerbaijan stressed that the country is economically independent. “If we want now, we can again start attracting loans from international financial institutions, in fact, we have already started,” he continued. Aliyev assured that Azerbaijan would have no difficulty in attracting unlimited foreign loans. However, he noted that this is not necessary at the moment.
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