Azerbaijan has been one of the few states to submit voluntary national reviews to the United Nations twice, President of the Republic of Azerbaijan Ilham Aliyev has said in his speech in a video format at the meeting of Heads of State and Government on “Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond”.
President Ilham Aliyev said Azerbaijan’s economy has developed rapidly: "The GDP tripled in the last 17 years. Poverty in Azerbaijan went down from 49% to 5% within 17 years.
The external public debt of Azerbaijan is one of the lowest in the world and constitutes only about 20 percent of the GDP and Azerbaijan ranks 9th for this indicator globally. Azerbaijan has the lowest external debt among the oil exporting countries.
Foreign Exchange Reserves of Azerbaijan exceed the external public debt by 6 times.
More than 260 billion USD were invested in the country within 17 years. According to the statistics provided by the International Monetary Fund, currently Azerbaijan’s economy accounts for 70% of the entire economy of the Southern Caucasus region based on the purchasing parity power method."
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