Azerbaijan's GDP has quadrupled over the past 20 years, and budget revenues have grown more than 30 times, Azerbaijani Economy Minister Mikayil Jabbarov said at the meeting of the SPECA Board of Directors.
According to him, Azerbaijan's foreign trade turnover has grown more than 10 times during this period.
The minister noted that the republic has been able to lower our direct foreign debt to around 10% of GDP. Azerbaijan's foreign exchange reserves are ten times more than its direct foreign debt, he added.
According to him, Azerbaijan has established a very favorable investment environment not only for the energy sector, but also for other sectors.
"Azerbaijan has entered a new stage of strategic development for the period 2020–2030 in the post-pandemic and post-conflict periods," Jabbarov said.
