Azerbaijan’s economic outlook is underscored by a robust reserve position as Prime Minister Ali Asadov outlined the latest figures. He noted that the country’s strategic foreign exchange reserves are currently estimated at around 67 billion dollars, a level that reflects prudent management and sustained accumulation. The Prime Minister pointed to a substantial year-to-date rise in these reserves, highlighting a 14.5 percent increase since the start of the year. This growth aligns with the government’s broader macroeconomic strategy, which prioritizes stability and long-term fiscal soundness. The remarks came during a government discussion of Azerbaijan’s draft state budget for 2024, where officials outlined plans to balance growth with careful expenditure oversight and debt management. These reserve levels provide a cushion for the economy amid global volatility and fluctuating commodity prices, supporting the country’s investment plans and social programs. (Source: Interfax)
Asadov also reiterated the government’s inflation targets. He stated that the nation’s leadership assigned a clear objective to reduce the annual average inflation to single-digit levels by the end of 2023, signaling a commitment to price stability as a pillar of economic policy. This target is part of a broader package aimed at preserving purchasing power for citizens and maintaining predictable business conditions. The emphasis on inflation control is tied to the government’s view that stable prices support sustainable growth, investment confidence, and social welfare. (Source: Interfax)
In related developments, Elchin Amirbekov, the Presidential Representative for special duties, commented on efforts toward a peace framework with Armenia. He noted that a draft peace agreement has been handed to Armenia and described negotiations in Yevlakh as a potential path toward a broader settlement between Baku and Yerevan. Amirbekov also cautioned that the international community should not expect a single diplomatic session to resolve all outstanding disputes related to Nagorno-Karabakh. His remarks reflect the nuanced, incremental approach that the Azerbaijani leadership has consistently advocated, prioritizing sustained diplomacy while safeguarding national interests. (Source: Presidential Administration)
Earlier reporting confirmed that a finished meeting between Azerbaijani and Armenian delegations took place in Yevlakh, focusing on the Karabakh issue. The discussions underscore Azerbaijan’s readiness to pursue dialogue alongside concrete steps on regions under dispute, with both sides participating in ongoing talks designed to reduce tensions and foster stability. Observers note that such meetings, while not delivering immediate solutions, help build trust, clarify positions, and set the stage for continued negotiation. The overall message from Baku remains one of measured diplomacy, anchored in sovereignty and the pursuit of a durable peace through constructive engagement. (Source: Various briefings)