Azerbaijan’s Strategic Currency Reserves Reach $77.7 Billion
Baku, The Gulf Observer: Governor of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, has announced that the country’s strategic currency reserves have risen to $77.7 billion, marking a significant milestone in Azerbaijan’s economic stability.
Speaking on the development, Governor Kazimov emphasized that the current figure reflects a 9.4 percent increase compared to the beginning of the year. He noted that the growth in reserves demonstrates the effectiveness of Azerbaijan’s macroeconomic policies and prudent fiscal management.
“The steady accumulation of reserves is a key indicator of our country’s financial resilience and capacity to withstand external shocks,” Kazimov stated.
The increase in reserves is expected to further bolster investor confidence, support the national currency, and enhance Azerbaijan’s ability to finance development projects and respond to global economic challenges.
