Azerbaijan’s strategic currency stocks increased by 14% in 2012

Azerbaijan’s strategic currency stocks increased by 14% in 2012
# 15 February 2013 10:42 (UTC +04:00)

At the same time, Azerbaijan’s strategic currency reserves advances foreign public debt by 8 times.

According to the report, currently strategic currency reserves/GDP ratio is approximately 70%. For this figure Azerbaijan ranks in the top 15 in the world. In general, growth rate of strategic currency reserves is a factor that decreases vulnerability of country’s economy against possible foreign debt pull or forming strong ‘macroeconomic buffer’. Consequently, Net International Investment Position of the country is favorable.

During the reporting period, currency reserves of the CBA grew by 12% to $11.7 bn, which is enough for financing of goods and services’ import for a year.

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