Azerbaijan’s financial position strengthened. As of October 1, 2014, total foreign exchange reserves reached to $53 bln, increasing by $3.6 bln or 8 percent, said Azerbaijani Minister of Finance Samir Sharifov in his speech at the meeting of the Cabinet of Ministers.
The minister said Azerbaijan's total foreign exchange reserves are 8 times higher than external debt and the public debt-to-GDP ratio was 8.5 percent.