Azerbaijan can reduce its foreign public debt to zero in a single day.

Operativ Media reports that President of the Republic of Azerbaijan Ilham Aliyev said this during his speech at the event themed "Restoring Trust in a Fragmented World: The South Caucasus as a Pillar of Global Connectivity and Investment Stability," organized as part of the 2nd Azerbaijan International Investment Forum in Baku.

The president stated that Azerbaijan's foreign public debt accounts for 5.6% of its GDP, while its foreign exchange reserves exceed the foreign debt by approximately 20 times.

“Our foreign public debt accounts for 5.6% of GDP, and we can actually reduce it to zero in a single day. This is because our foreign exchange reserves exceed our foreign debt by about 20 times,” the president emphasized.

Ilham Aliyev noted that political and economic stability is a crucial factor today. According to him, another important factor is that Azerbaijan has a strong financial system.