BAKU, Azerbaijan, November 23. 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, Trend reports.
He spoke at the 18th meeting of the SPECA Board of
Directors.
According to him, Azerbaijan’s foreign trade turnover has grown
more than 10 times during this period.
“We have been able to lower our direct foreign debt to around
ten percent of GDP. Azerbaijan’s foreign exchange reserves are ten
times more than our direct foreign debt. We have established a very
favorable investment environment not only for the energy sector,
but also for other sectors.,” the minister emphasized.
“Azerbaijan has entered a new stage of strategic development for
the period 2020–2030 in the post-pandemic and post-conflict
periods,” Jabbarov added.
The UN SPECA program was established on March 26, 1998.
At present, the SPECA member states are Afghanistan, Azerbaijan,
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and
Uzbekistan.
SPECA provides a platform for sub-regional cooperation to
realize the Sustainable Development Goals (SDGs) that can best be
achieved through regional cooperation.
Azerbaijan is chairing the program in 2023 and hosting SPECA
Days in Baku on November 20–24, 2023.
Stay up-to-date with more news at Trend News
Agency’s WhatsApp channel