“Last year, we also made a strategic decision to increase our gold reserves. We clearly could see the geopolitical developments, and I was absolutely sure that the price of gold would go up, and it skyrocketed,” President of Azerbaijan Ilham Aliyev said this in an interview with local television channels on January 5.
Emphasizing that this decision brought significant income to Azerbaijan, the head of state noted: “By increasing our reserves of gold, our State Oil Fund earned more than 10 billion U.S. dollars only because of that. But if the price goes down, of course, our reserves will go down. So, now our reserves change every day. Today, probably, they’re 84 or 83. Tomorrow, it will be 85. Nevertheless, this is one of the highest per capita reserves in the world, which any country can have.”
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