"As a result of our successful economic and financial policies, we have been able to significantly reduce our foreign debt. This is a great advantage both for today and for future generations," said President of the Republic of Azerbaijan, Chairman of New Azerbaijan Party Ilham Aliyev at the event marking the 30th anniversary of the establishment of the New Azerbaijan Party (YAP) at the Heydar Aliyev Center, APA reports.
"Today, because our credit rating is improving. For future generations, because this burden will not fall on future generations. As a result of the reforms carried out by my order a few years ago, we will reduce the share of our foreign debt in the gross domestic product to 10 percent by the end of this year. If we look at our foreign exchange reserves, the volume of our foreign exchange reserves is eight times higher than our foreign debt. So only a handful of countries can boast of these indicators," added Head of state.