Ilham Aliyev: SOCAR Is Our Strategic Asset
2017 November 10 ( Thursday ) 10:29:12
Baku/10.11.17/ Turan: Azerbaijani President Ilham Aliyev notes the stable financial situation of the republic and expects further growth of strategic foreign exchange reserves.
"Our financial situation is stable, and there are no problems, although certain circles want to belittle us in this matter, to present everything as if the financial situation of Azerbaijan is not very good. In the first 9 months of 2017 our foreign exchange reserves increased by $ 4.5 billion (up to $ 42 billion - Ed.) and up to the end the growth trend will continue," Ilham Aliyev said at a ceremony dedicated to the production of a 2-billionth ton of oil in Azerbaijan.
According to him, Azerbaijan"s external debt is 18% of GDP.
Ilham Aliyev stressed that in 2018 considerable financial resources will be allocated to support the oil industry of Azerbaijan. "The state will continue to support the State Oil Company, even taking into account the fact that it itself earns money; this is our strategic asset," Mr. President added. -0-