“This year's economic performance in the post-pandemic period is satisfactory. For example, our economy has grown by about 5%, with the non-oil sector growth recorded at more than 9%. At the same time, our GDP this year reached a record AZN 130 billion. This is a historic achievement. In parallel, our foreign debt has been significantly reduced. A few years ago, I set a goal for the government to reduce our foreign debt to less than 10% of the GDP. Last year it was 17%, the latest figures for this year show the rate of 9.5%. By comparison, in some developed countries, the volume of foreign debt is 100, 120, or even 150% of the GDP,” the head of state added.
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