AZERBAIJAN"S STRATEGIC CURRENCY RESERVES GREW IN 2012 BY 14%

Azerbaijan's strategic currency reserves increased in 2012 by $ 5.5 billion or 14% to over $ 46 billion, enough to cover imports of goods and services for 3 years. It is also about 8 times greater than the external debt of the country.

 
   According to the report of the Central Bank on monetary policy on the basis of the four quarters of last year, foreign exchange reserves of the Central Bank of Azerbaijan rose by 12% to $ 11.7 billion. That is enough to fund some of the annual imports of goods and services.
 
   Currently, the ratio of strategic currency reserves of Azerbaijan to GDP close to 70 percent. - 15D -
 

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