Azerbaijan boosts forex reserves 3.6% in 2024

BAKU. Feb 13 (Interfax) - Azerbaijan boosted foreign exchange reserves 3.6% to $71 billion in 2024, the Finance Ministry said.

"As of January 1, 2025, forex reserves, including those of the State Petroleum Fund and Central Bank, were estimated at $71 billion, which is $2.5 billion or 3.6% more than at the end of 2023," the ministry said on its website.

Forex reserves grew by $12.5 billion or 21.4% in the three years from 2022 to 2024.

The forex reserves as of January 1 this year were nearly 14 times foreign debt of $5.1 billion. Foreign debt was $6.5 billion at the end of 2023 and $6.7 billion at the end of 2022.